Royal Palms Capital LLC Purchases Shares of 152,657 Regions Financial Corporation $RF
by Teresa Graham · The Cerbat GemRoyal Palms Capital LLC purchased a new stake in shares of Regions Financial Corporation (NYSE:RF – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 152,657 shares of the bank’s stock, valued at approximately $4,137,000. Regions Financial accounts for approximately 4.9% of Royal Palms Capital LLC’s holdings, making the stock its 3rd largest holding.
Several other institutional investors have also added to or reduced their stakes in RF. Darwin Wealth Management LLC purchased a new stake in Regions Financial during the 2nd quarter valued at $25,000. United Community Bank purchased a new stake in shares of Regions Financial in the 3rd quarter worth about $30,000. Spire Wealth Management lifted its position in shares of Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after purchasing an additional 557 shares during the period. Princeton Global Asset Management LLC lifted its position in shares of Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after purchasing an additional 854 shares during the period. Finally, Leonteq Securities AG purchased a new stake in shares of Regions Financial in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.
Insider Transactions at Regions Financial
In related news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research firms have recently commented on RF. Brean Capital began coverage on shares of Regions Financial in a research report on Thursday, March 12th. They issued a “neutral” rating for the company. Truist Financial reaffirmed a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. Royal Bank Of Canada raised their target price on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Morgan Stanley dropped their target price on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Tuesday, March 3rd. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average target price of $30.47.
Get Our Latest Analysis on Regions Financial
Regions Financial Trading Up 1.5%
Shares of NYSE RF opened at $28.26 on Wednesday. Regions Financial Corporation has a 1 year low of $20.79 and a 1 year high of $31.53. The stock has a market cap of $24.12 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. The firm has a 50-day moving average of $27.07 and a 200 day moving average of $27.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.
Regions Financial (NYSE:RF – Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the company posted $0.54 EPS. Regions Financial’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.
Regions Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s dividend payout ratio (DPR) is 44.17%.
Regions Financial Company Profile
Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.
In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.
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