Logan Capital Management Inc. Buys 28,018 Shares of Regions Financial Corporation $RF

Logan Capital Management Inc. increased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 18.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 183,168 shares of the bank’s stock after purchasing an additional 28,018 shares during the period. Logan Capital Management Inc.’s holdings in Regions Financial were worth $4,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Financial Bankshares Inc bought a new position in shares of Regions Financial during the fourth quarter valued at approximately $22,846,000. Xponance LLC boosted its stake in shares of Regions Financial by 28.9% during the fourth quarter. Xponance LLC now owns 191,993 shares of the bank’s stock valued at $5,203,000 after purchasing an additional 43,006 shares in the last quarter. Keel Point LLC bought a new position in shares of Regions Financial during the fourth quarter valued at approximately $325,000. IFM Investors Pty Ltd boosted its stake in shares of Regions Financial by 3.8% during the fourth quarter. IFM Investors Pty Ltd now owns 186,182 shares of the bank’s stock valued at $5,046,000 after purchasing an additional 6,823 shares in the last quarter. Finally, Gateway Wealth Partners LLC boosted its stake in shares of Regions Financial by 1.7% during the fourth quarter. Gateway Wealth Partners LLC now owns 29,226 shares of the bank’s stock valued at $792,000 after purchasing an additional 502 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Trading Up 1.2%

NYSE RF opened at $28.91 on Friday. The company has a fifty day simple moving average of $27.73 and a two-hundred day simple moving average of $27.64. The stock has a market cap of $24.67 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.12 and a beta of 1.00. Regions Financial Corporation has a 12-month low of $21.40 and a 12-month high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18.

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

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.265 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.7%. Regions Financial’s dividend payout ratio (DPR) is currently 44.17%.

Insider Activity

In related news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, March 3rd. Truist Financial reiterated a “hold” rating and set a $30.00 price objective on shares of Regions Financial in a research note on Tuesday, April 21st. Piper Sandler dropped their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, March 30th. Royal Bank Of Canada increased their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, Brean Capital began coverage on shares of Regions Financial in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.47.

About Regions Financial

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.