Regions Financial (NYSE:RF) Shares Gap Up After Strong Earnings

Regions Financial Co. (NYSE:RF) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $19.17, but opened at $20.29. Regions Financial shares last traded at $19.35, with a volume of 5,500,033 shares traded.

The bank reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $0.37 earnings per share.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 5.19%. Regions Financial’s dividend payout ratio is currently 51.55%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial reduced their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Wells Fargo & Company lowered their price target on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Barclays boosted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Citigroup reduced their price target on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.42.

Insider Buying and Selling at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have bought 3,343 shares of company stock worth $74,348. 0.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Y.D. More Investments Ltd increased its holdings in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after acquiring an additional 634 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Regions Financial during the fourth quarter valued at approximately $28,000. Picton Mahoney Asset Management raised its holdings in Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after acquiring an additional 1,201 shares during the last quarter. Millstone Evans Group LLC bought a new position in Regions Financial in the 4th quarter valued at approximately $32,000. Finally, Grove Bank & Trust boosted its stake in Regions Financial by 76.6% during the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock valued at $41,000 after purchasing an additional 814 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Trading Up 0.5 %

The stock has a fifty day simple moving average of $21.59 and a 200 day simple moving average of $23.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $17.44 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Regions Financial Company 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.