Resonant Capital Advisors LLC Has $570,000 Stock Position in Regions Financial Corporation $RF

Resonant Capital Advisors LLC grew its position in Regions Financial Corporation (NYSE:RF) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 24,016 shares of the bank’s stock after purchasing an additional 1,202 shares during the period. Resonant Capital Advisors LLC’s holdings in Regions Financial were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. grew its holdings in Regions Financial by 35.7% in the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank’s stock valued at $456,122,000 after buying an additional 5,521,772 shares in the last quarter. Nuveen LLC acquired a new position in Regions Financial in the 1st quarter valued at $53,018,000. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank’s stock valued at $675,645,000 after acquiring an additional 1,909,162 shares in the last quarter. Amundi grew its stake in shares of Regions Financial by 20.4% in the first quarter. Amundi now owns 10,010,267 shares of the bank’s stock valued at $198,721,000 after acquiring an additional 1,696,347 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Regions Financial by 3.7% in the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank’s stock valued at $960,717,000 after acquiring an additional 1,562,512 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE RF opened at $24.56 on Monday. The firm’s 50 day simple moving average is $26.10 and its 200 day simple moving average is $23.90. The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 1.26 and a beta of 1.02. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27.

Regions Financial (NYSE:RF) last issued its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The firm had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. As a group, research analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $0.265 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.06 annualized dividend and a yield of 4.3%. Regions Financial’s dividend payout ratio (DPR) is 46.70%.

Insider Buying and Selling

In other news, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value 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 trade represents a 24.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roger W. Jenkins bought 4,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was bought at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the transaction, the director directly owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. This represents a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley set a $32.00 target price on shares of Regions Financial in a research report on Monday, September 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Regions Financial in a research report on Saturday. Keefe, Bruyette & Woods increased their price target on Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Evercore ISI increased their price target on Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, Truist Financial reduced their target price on Regions Financial from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Monday, October 20th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.19.

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.