Empirical Finance LLC Acquires 1,134 Shares of Regions Financial Co. (NYSE:RF)

Empirical Finance LLC increased its holdings in shares of Regions Financial Co. (NYSE:RF) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,262 shares of the bank’s stock after acquiring an additional 1,134 shares during the period. Empirical Finance LLC’s holdings in Regions Financial were worth $721,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RF. Laurel Wealth Advisors LLC lifted its stake in shares of Regions Financial by 86.5% in the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after buying an additional 649 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in Regions Financial during the fourth quarter valued at approximately $28,000. Sound Income Strategies LLC lifted its position in Regions Financial by 103.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares during the period. Glassman Wealth Services lifted its position in Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after purchasing an additional 967 shares during the period. Finally, MV Capital Management Inc. lifted its position in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares during the period. Institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RF shares. Keefe, Bruyette & Woods lowered their price objective on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday. Jefferies Financial Group increased their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Truist Financial upped their target price on shares of Regions Financial from $20.00 to $21.00 and gave the company a “hold” rating in a report on Monday. StockNews.com cut shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Friday, July 5th. Finally, Morgan Stanley reduced their target price on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $20.39.

Regions Financial Price Performance

Shares of NYSE:RF traded down $0.24 during midday trading on Friday, reaching $20.47. 11,514,203 shares of the company were exchanged, compared to its average volume of 8,075,853. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average is $19.38 and its two-hundred day moving average is $19.22. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08. The stock has a market cap of $18.75 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 2.31 and a beta of 1.18.

Regions Financial (NYSE:RF) last issued its earnings results 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 return on equity of 13.28% and a net margin of 19.75%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the company posted $0.62 EPS. Regions Financial’s revenue was down 10.5% compared to the same quarter last year. As a group, analysts predict that Regions Financial Co. will post 1.96 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.69%. Regions Financial’s dividend payout ratio is 52.17%.

Insider Buying and Selling

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

Regions Financial 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.