EverSource Wealth Advisors LLC Acquires 2,895 Shares of Regions Financial Co. (NYSE:RF)

EverSource Wealth Advisors LLC lifted its holdings in Regions Financial Co. (NYSE:RF) by 18.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,669 shares of the bank’s stock after purchasing an additional 2,895 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Regions Financial were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of RF. Sound Income Strategies LLC boosted its stake in shares of Regions Financial by 103.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after buying an additional 750 shares during the last quarter. HM Payson & Co. increased its position in shares of Regions Financial by 2,000.0% during the 3rd quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,000 shares during the last quarter. West Paces Advisors Inc. lifted its stake in shares of Regions Financial by 277.2% in the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock worth $41,000 after purchasing an additional 1,752 shares during the period. Baker Avenue Asset Management LP boosted its holdings in shares of Regions Financial by 69.4% in the third quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock worth $42,000 after buying an additional 1,000 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in Regions Financial by 113.0% during the fourth quarter. Global Retirement Partners LLC now owns 2,492 shares of the bank’s stock valued at $45,000 after buying an additional 1,322 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Up 0.3 %

Shares of Regions Financial stock traded up $0.06 on Friday, reaching $18.98. The company had a trading volume of 368,153 shares, compared to its average volume of 8,167,235. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $21.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s 50 day moving average price is $19.77 and its two-hundred day moving average price is $18.68. The firm has a market cap of $17.38 billion, a PE ratio of 10.28, a PEG ratio of 2.13 and a beta of 1.21.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Sell-side analysts predict that Regions Financial Co. will post 1.96 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Monday, June 3rd. Regions Financial’s payout ratio is 52.17%.

Wall Street Analyst Weigh In

RF has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Truist Financial decreased their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Evercore ISI raised their price target on shares of Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Finally, Keefe, Bruyette & Woods upped their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.34.

Insider Activity at Regions Financial

In related news, Director William C. Rhodes III acquired 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The shares were acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the purchase, the director now owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William C. Rhodes III acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was acquired at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

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.