20,617 Shares in Regions Financial Co. (NYSE:RF) Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new stake in shares of Regions Financial Co. (NYSE:RF - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,617 shares of the bank's stock, valued at approximately $485,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Y.D. More Investments Ltd lifted its stake in Regions Financial by 122.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after purchasing an additional 634 shares during the last quarter. Sierra Ocean LLC bought a new position in Regions Financial in the 4th quarter valued at $28,000. Picton Mahoney Asset Management lifted its position in shares of Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after purchasing an additional 1,201 shares during the last quarter. Millstone Evans Group LLC purchased a new position in Regions Financial in the 4th quarter worth about $32,000. Finally, Creative Capital Management Investments LLC purchased a new stake in Regions Financial in the 4th quarter valued at about $44,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Regions Financial

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, the director now owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders bought 3,343 shares of company stock valued at $74,348. 0.29% of the stock is owned by company insiders.

Regions Financial Price Performance

RF stock traded up $0.09 during midday trading on Friday, reaching $19.26. The stock had a trading volume of 18,651,917 shares, compared to its average volume of 8,135,804. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. The company's fifty day simple moving average is $21.59 and its 200 day simple moving average is $23.56. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same quarter in the prior year, the company earned $0.37 EPS. As a group, sell-side analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. The ex-dividend date 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 presently 51.55%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RF. Citigroup decreased 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 note on Monday, March 24th. Wells Fargo & Company lowered their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. JPMorgan Chase & Co. lowered their price target on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Truist Financial decreased their target price on Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a report on Friday, March 21st. Finally, Barclays lifted 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $26.42.

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.