Gateway Investment Advisers LLC Purchases Shares of 26,673 Regions Financial Corporation $RF

Gateway Investment Advisers LLC purchased a new position in shares of Regions Financial Corporation (NYSE:RF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,673 shares of the bank’s stock, valued at approximately $723,000.

Other hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in Regions Financial in the second quarter valued at $25,000. United Community Bank acquired a new stake in Regions Financial in the 3rd quarter worth about $30,000. Spire Wealth Management grew its holdings in Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after buying an additional 557 shares during the period. Princeton Global Asset Management LLC increased its stake in shares of Regions Financial by 260.4% during the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after acquiring an additional 854 shares during the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. acquired a new position in shares of Regions Financial during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

RF has been the topic of several research analyst reports. Wells Fargo & Company cut shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a research report on Friday, January 16th. Truist Financial reaffirmed a “hold” rating and set a $30.00 price target on shares of Regions Financial in a research report on Tuesday, April 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $32.00 price target on shares of Regions Financial in a research note on Tuesday, March 3rd. Royal Bank Of Canada lifted their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, UBS Group restated a “neutral” rating and set a $30.00 price objective on shares of Regions Financial in a report on Wednesday, February 4th. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Regions Financial has an average rating of “Hold” and an average price target of $30.12.

Insider Activity

In related news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Regions Financial Price Performance

Regions Financial stock opened at $27.65 on Friday. The firm has a fifty day moving average of $27.07 and a 200-day moving average of $27.06. Regions Financial Corporation has a 52-week low of $20.79 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 market capitalization of $23.87 billion, a P/E ratio of 11.52, a PEG ratio of 1.08 and a beta of 1.02.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the company earned $0.54 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, analysts predict that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.265 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.8%. Regions Financial’s dividend payout ratio (DPR) is 44.17%.

Regions Financial Company 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.