GAMMA Investing LLC Purchases 900 Shares of Regions Financial Co. (NYSE:RF)

GAMMA Investing LLC grew its position in shares of Regions Financial Co. (NYSE:RF) by 10.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,792 shares of the bank’s stock after acquiring an additional 900 shares during the quarter. GAMMA Investing LLC’s holdings in Regions Financial were worth $206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisor Resource Council purchased a new position in Regions Financial during the fourth quarter worth $1,944,000. Vanguard Group Inc. boosted its stake in Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after buying an additional 3,119,237 shares during the period. abrdn plc boosted its stake in Regions Financial by 17.0% during the fourth quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock worth $45,546,000 after buying an additional 341,878 shares during the period. Mizuho Markets Americas LLC boosted its stake in Regions Financial by 35.6% during the fourth quarter. Mizuho Markets Americas LLC now owns 153,136 shares of the bank’s stock worth $2,968,000 after buying an additional 40,200 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its stake in Regions Financial by 1,676.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock worth $1,816,000 after buying an additional 88,437 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Insider Activity at Regions Financial

In other news, Director William C. Rhodes III bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at $968,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director William C. Rhodes III bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at $968,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the transaction, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Morgan Stanley decreased their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Evercore ISI lifted their target price on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Finally, Truist Financial decreased their price objective on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Regions Financial has an average rating of “Hold” and an average target price of $20.34.

Regions Financial Price Performance

Shares of RF stock opened at $18.92 on Friday. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 2.07 and a beta of 1.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The stock’s 50-day simple moving average is $19.26 and its 200-day simple moving average is $19.08.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. Regions Financial’s revenue was down 10.5% on a year-over-year basis. As a group, equities analysts forecast that Regions Financial Co. will post 1.96 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 5.08%. Regions Financial’s dividend payout ratio is currently 52.17%.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.