Brooklyn Investment Group Buys 689 Shares of Regions Financial Corporation $RF

Brooklyn Investment Group increased its stake in shares of Regions Financial Corporation (NYSE:RF) by 9.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,976 shares of the bank’s stock after acquiring an additional 689 shares during the quarter. Brooklyn Investment Group’s holdings in Regions Financial were worth $173,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Foster Victor Wealth Advisors LLC increased its position in Regions Financial by 5.4% during the first quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank’s stock worth $6,606,000 after acquiring an additional 15,652 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Regions Financial by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank’s stock valued at $52,762,000 after acquiring an additional 21,169 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Regions Financial by 13.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank’s stock valued at $3,424,000 after acquiring an additional 18,684 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Regions Financial by 62.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank’s stock valued at $440,000 after acquiring an additional 7,822 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of Regions Financial during the 1st quarter valued at about $272,000. Institutional investors own 79.39% of the company’s stock.

Insider Transactions at Regions Financial

In related news, Director Roger W. Jenkins acquired 4,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were purchased at an average price of $25.48 per share, with a total value of $101,920.00. Following the acquisition, the director directly owned 6,383 shares in the company, valued at $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP David R. Keenan sold 30,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president directly owned 90,915 shares in the company, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Regions Financial Stock Up 0.4%

RF opened at $25.8350 on Thursday. The firm’s 50-day simple moving average is $24.52 and its 200-day simple moving average is $22.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The firm has a market cap of $23.05 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.48 and a beta of 1.01.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.1%. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s payout ratio is currently 46.51%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RF. Morgan Stanley lifted their target price on shares of Regions Financial from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. Truist Financial reiterated a “hold” rating on shares of Regions Financial in a research report on Friday, May 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. TD Cowen started coverage on shares of Regions Financial in a research report on Thursday, May 15th. They set a “buy” rating and a $31.00 target price on the stock. Finally, Cowen started coverage on shares of Regions Financial in a report on Wednesday, May 14th. They issued a “buy” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.33.

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.