Assetmark Inc. Buys 7,870 Shares of Regions Financial Corporation $RF

Assetmark Inc. increased its position in Regions Financial Corporation (NYSE:RF) by 35.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,246 shares of the bank’s stock after buying an additional 7,870 shares during the period. Assetmark Inc.’s holdings in Regions Financial were worth $711,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC acquired a new position in shares of Regions Financial during the first quarter worth approximately $272,000. Envestnet Asset Management Inc. boosted its stake in shares of Regions Financial by 11.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 457,409 shares of the bank’s stock worth $9,940,000 after buying an additional 46,265 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in Regions Financial in the 1st quarter valued at $245,000. Valeo Financial Advisors LLC grew its position in Regions Financial by 21.0% during the first quarter. Valeo Financial Advisors LLC now owns 14,268 shares of the bank’s stock valued at $310,000 after buying an additional 2,478 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Regions Financial by 11.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 342,585 shares of the bank’s stock valued at $7,523,000 after acquiring an additional 34,285 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Performance

NYSE RF opened at $24.32 on Friday. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The company has a fifty day moving average of $25.69 and a 200-day moving average of $24.18. The company has a market capitalization of $21.70 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.24 and a beta of 1.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The business had revenue of $1.81 billion for the quarter. As a group, equities research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a $0.265 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a yield of 4.4%. Regions Financial’s payout ratio is presently 46.70%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RF. Weiss Ratings restated a “buy (b-)” rating on shares of Regions Financial in a research note on Wednesday, October 8th. Truist Financial lowered their target price on Regions Financial from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Monday, October 20th. Keefe, Bruyette & Woods increased their price target on Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. DA Davidson lifted their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Finally, Citigroup upped their price objective on shares of Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.19.

Insider Transactions at Regions Financial

In other Regions Financial news, Director Roger W. Jenkins purchased 4,000 shares of Regions Financial stock in a transaction on Wednesday, August 13th. The shares were acquired at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the transaction, the director directly owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.