Procyon Advisors LLC Acquires New Holdings in Regions Financial Corporation $RF

Procyon Advisors LLC bought a new stake in Regions Financial Corporation (NYSE:RF) during the 1st quarter, Holdings Channel.com reports. The fund bought 24,880 shares of the bank’s stock, valued at approximately $650,000.

A number of other large investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI lifted its position in shares of Regions Financial by 41.4% during the first quarter. Citizens Financial Group Inc. RI now owns 10,959 shares of the bank’s stock valued at $289,000 after buying an additional 3,210 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Regions Financial by 473.9% during the 1st quarter. Fifth Third Bancorp now owns 337,942 shares of the bank’s stock worth $8,827,000 after acquiring an additional 279,055 shares in the last quarter. Candriam S.C.A. raised its stake in shares of Regions Financial by 5.5% during the 1st quarter. Candriam S.C.A. now owns 84,574 shares of the bank’s stock worth $2,209,000 after acquiring an additional 4,400 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Regions Financial by 27.6% during the first quarter. Sequoia Financial Advisors LLC now owns 61,241 shares of the bank’s stock valued at $1,600,000 after acquiring an additional 13,229 shares during the last quarter. Finally, Equitable Trust Co. lifted its position in Regions Financial by 6.4% during the first quarter. Equitable Trust Co. now owns 64,875 shares of the bank’s stock valued at $1,695,000 after acquiring an additional 3,916 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

Regions Financial Stock Down 0.5%

RF stock opened at $30.92 on Wednesday. The stock has a market capitalization of $26.38 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $31.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $28.72 and a 200 day moving average of $28.16.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. Regions Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 EPS. Sell-side analysts forecast that Regions Financial Corporation will post 2.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on RF. Morgan Stanley lifted their price target on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. DA Davidson lowered Regions Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $35.00 to $33.00 in a report on Monday, July 6th. UBS Group raised their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Truist Financial restated a “hold” rating and set a $30.00 target price on shares of Regions Financial in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company upped their target price on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.16.

Regions Financial 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.