21,711 Shares in Regions Financial Corporation $RF Acquired by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC acquired a new stake in Regions Financial Corporation (NYSE:RF) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,711 shares of the bank’s stock, valued at approximately $588,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RF. Empowered Funds LLC increased its holdings in Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after buying an additional 1,278 shares during the last quarter. Woodline Partners LP boosted its position in shares of Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after acquiring an additional 22,216 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Regions Financial by 297.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 24,710 shares of the bank’s stock worth $581,000 after acquiring an additional 18,500 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Regions Financial in the 2nd quarter valued at about $33,000. Finally, Norges Bank acquired a new stake in shares of Regions Financial during the 2nd quarter worth about $246,790,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

Shares of NYSE RF opened at $26.09 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $31.53. The stock has a 50 day moving average of $27.89 and a two-hundred day moving average of $26.73. The stock has a market cap of $22.53 billion, a P/E ratio of 11.39, a P/E/G ratio of 0.91 and a beta of 1.02.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. On average, research analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 46.29%.

Regions Financial announced that its board has approved a stock buyback plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RF shares. Brean Capital began coverage on Regions Financial in a report on Thursday, March 12th. They issued a “neutral” rating for the company. Truist Financial reduced their price objective on shares of Regions Financial from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, March 23rd. Wall Street Zen cut shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Evercore downgraded shares of Regions Financial from an “in-line” rating to an “underperform” rating and increased their target price for the company from $27.00 to $29.00 in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company lowered shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a research note on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.91.

Insider Buying and Selling

In other news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, the executive vice president directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.