Regions Financial Co. (NYSE:RF) Shares Purchased by My Legacy Advisors LLC

My Legacy Advisors LLC boosted its stake in Regions Financial Co. (NYSE:RF) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,311 shares of the bank’s stock after acquiring an additional 825 shares during the period. My Legacy Advisors LLC’s holdings in Regions Financial were worth $615,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new position in Regions Financial in the 4th quarter valued at about $28,000. Picton Mahoney Asset Management boosted its holdings in Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,201 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in Regions Financial in the 4th quarter valued at approximately $32,000. Creative Capital Management Investments LLC purchased a new stake in Regions Financial in the 4th quarter valued at approximately $44,000. Finally, Allworth Financial LP boosted its holdings in Regions Financial by 36.4% in the 4th quarter. Allworth Financial LP now owns 2,560 shares of the bank’s stock valued at $62,000 after purchasing an additional 683 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RF shares. Wells Fargo & Company lowered their price objective on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Keefe, Bruyette & Woods decreased their price target on Regions Financial from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Jefferies Financial Group started coverage on Regions Financial in a research note on Wednesday, May 21st. They set a “hold” rating and a $24.00 price target on the stock. The Goldman Sachs Group decreased their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, TD Cowen started coverage on Regions Financial in a research note on Thursday, May 15th. They set a “buy” rating and a $31.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.80.

Regions Financial Trading Up 1.2%

Shares of RF opened at $22.37 on Wednesday. The stock has a fifty day moving average of $20.71 and a two-hundred day moving average of $22.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $20.10 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96.

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

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.47%. Regions Financial’s payout ratio is 48.08%.

Regions Financial 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.