60,950 Shares in Regions Financial Co. (NYSE:RF) Acquired by Tounjian Advisory Partners LLC

Tounjian Advisory Partners LLC bought a new stake in Regions Financial Co. (NYSE:RF) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 60,950 shares of the bank’s stock, valued at approximately $1,324,000.

Several other hedge funds have also recently added to or reduced their stakes in RF. Charles Schwab Investment Management Inc. increased its holdings in shares of Regions Financial by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after acquiring an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Regions Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock valued at $540,284,000 after purchasing an additional 403,283 shares in the last quarter. First Trust Advisors LP increased its stake in Regions Financial by 7.7% in the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock valued at $401,097,000 after purchasing an additional 1,224,645 shares during the last quarter. Invesco Ltd. raised its holdings in Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock worth $363,823,000 after purchasing an additional 1,963,954 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Regions Financial during the 4th quarter worth approximately $279,103,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

RF has been the topic of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $24.00 target price on shares of Regions Financial in a research report on Tuesday, June 3rd. Cowen began coverage on shares of Regions Financial in a research note on Wednesday, May 14th. They set a “buy” rating for the company. Wall Street Zen lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. dropped their price objective on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, TD Cowen started coverage on shares of Regions Financial in a research note on Thursday, May 15th. They set a “buy” rating and a $31.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.80.

Insiders Place Their Bets

In related news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now directly owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Regions Financial Price Performance

RF stock opened at $22.08 on Monday. The firm has a 50 day moving average of $20.66 and a 200-day moving average of $22.78. The company has a market cap of $19.85 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.93 and a beta of 0.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12-month low of $17.72 and a 12-month high of $27.96.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business earned $0.37 earnings per share. As a group, equities analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Monday, June 2nd. Regions Financial’s payout ratio is currently 48.08%.

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.