GAMMA Investing LLC Acquires Shares of 8,892 Regions Financial Co. (NYSE:RF)

GAMMA Investing LLC acquired a new stake in Regions Financial Co. (NYSE:RF) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,892 shares of the bank’s stock, valued at approximately $166,000.

A number of other large investors have also recently made changes to their positions in RF. Vanguard Group Inc. raised its holdings in shares of Regions Financial by 2.7% in the third quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock valued at $1,970,871,000 after purchasing an additional 2,982,310 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Regions Financial by 8.4% in the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after purchasing an additional 4,160,768 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Regions Financial by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock valued at $346,922,000 after purchasing an additional 618,384 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Regions Financial by 15.1% in the third quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock valued at $190,682,000 after purchasing an additional 1,455,499 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Regions Financial by 13.4% in the third quarter. Northern Trust Corp now owns 10,761,543 shares of the bank’s stock valued at $185,099,000 after purchasing an additional 1,268,045 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Up 0.1 %

Shares of RF opened at $19.62 on Friday. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.43 and a beta of 1.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. 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 50 day moving average price of $19.43 and a 200-day moving average price of $18.09.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts forecast that Regions Financial Co. will post 1.95 earnings per share for the current 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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s payout ratio is 52.17%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RF shares. Argus downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Barclays restated an “underweight” rating and set a $22.00 price objective (up previously from $20.00) on shares of Regions Financial in a report on Tuesday, January 2nd. Truist Financial decreased their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada raised their price objective on shares of Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Finally, Stephens reiterated an “equal weight” rating and issued a $21.00 target price on shares of Regions Financial in a research note on Tuesday, January 23rd. 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.34.

Insider Buying and Selling

In other news, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were bought at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the purchase, 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. 0.33% of the stock is owned by insiders.

About Regions Financial

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.