OP Asset Management Ltd Takes Position in Regions Financial Corporation $RF

OP Asset Management Ltd purchased a new position in Regions Financial Corporation (NYSE:RF) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 102,904 shares of the bank’s stock, valued at approximately $2,688,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Darwin Wealth Management LLC acquired a new position in Regions Financial in the 2nd quarter worth about $25,000. SouthState Bank Corp grew its stake in shares of Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after buying an additional 538 shares in the last quarter. Spire Wealth Management grew its stake in shares of Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after buying an additional 557 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after buying an additional 854 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in Regions Financial in the fourth quarter worth approximately $33,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RF shares. Morgan Stanley reduced their target price on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Truist Financial restated a “hold” rating and set a $30.00 price target on shares of Regions Financial in a research note on Tuesday, April 21st. Brean Capital started coverage on shares of Regions Financial in a report on Thursday, March 12th. They set a “neutral” rating on the stock. Piper Sandler reduced their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.73.

Insider Buying and Selling at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Regions Financial Trading Up 0.4%

Shares of NYSE:RF opened at $30.09 on Friday. The company has a market cap of $25.68 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.14 and a beta of 1.00. The stock’s 50-day moving average is $28.16 and its 200-day moving average is $27.89. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $31.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. Equities research analysts predict that Regions Financial Corporation will post 2.6 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s dividend payout ratio is currently 44.17%.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.