Shell Asset Management Co. Buys 18,443 Shares of Regions Financial Co. (NYSE:RF)

Shell Asset Management Co. grew its stake in Regions Financial Co. (NYSE:RF) by 43.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,959 shares of the bank’s stock after purchasing an additional 18,443 shares during the quarter. Shell Asset Management Co.’s holdings in Regions Financial were worth $1,283,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RF. Laurel Wealth Advisors LLC grew its holdings in Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after purchasing an additional 649 shares during the period. MV Capital Management Inc. increased its holdings in Regions Financial by 75.6% in the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in Regions Financial in the 4th quarter valued at about $28,000. Glassman Wealth Services lifted its holdings 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 last quarter. Finally, Register Financial Advisors LLC bought a new position in Regions Financial during the first quarter worth about $46,000. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

RF has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial raised their price target on Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Monday. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Jefferies Financial Group raised their target price on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Finally, Piper Sandler lifted their target price on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and an average target price of $21.32.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $831,336.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Regions Financial Trading Up 0.2 %

Shares of NYSE:RF traded up $0.04 on Friday, hitting $22.59. The company had a trading volume of 1,511,636 shares, compared to its average volume of 8,196,188. The firm’s 50-day simple moving average is $19.78 and its two-hundred day simple moving average is $19.40. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 2.37 and a beta of 1.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $22.85.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The business’s revenue was down 11.5% compared to the same quarter last year. Equities analysts anticipate that Regions Financial Co. will post 1.99 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s payout ratio is 52.17%.

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.