MV Capital Management Inc. Raises Stock Holdings in Regions Financial Co. (NYSE:RF)

MV Capital Management Inc. increased its position in Regions Financial Co. (NYSE:RF) by 75.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,435 shares of the bank’s stock after buying an additional 618 shares during the quarter. MV Capital Management Inc.’s holdings in Regions Financial were worth $30,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Regions Financial by 2.7% in 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. Wellington Management Group LLP increased its position in Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares during the period. Norges Bank purchased a new position in Regions Financial during the 4th quarter valued at $210,379,000. Allspring Global Investments Holdings LLC increased its position in Regions Financial by 1.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock valued at $162,163,000 after purchasing an additional 103,529 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Regions Financial by 0.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,541,154 shares of the bank’s stock valued at $95,371,000 after purchasing an additional 44,882 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regions Financial

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RF shares. Piper Sandler boosted their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Morgan Stanley reduced their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Evercore ISI dropped their target price on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.28.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $20.09 on Wednesday. The stock has a market cap of $18.40 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 2.19 and a beta of 1.18. The firm’s 50-day moving average is $19.32 and its 200 day moving average is $19.18. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82.

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

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Monday, June 3rd. 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.