Cane Capital Partners LLC Buys Shares of 23,793 Regions Financial Corporation $RF

Cane Capital Partners LLC bought a new stake in Regions Financial Corporation (NYSE:RF) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 23,793 shares of the bank’s stock, valued at approximately $645,000.

A number of other large investors also recently bought and sold shares of RF. Empowered Funds LLC lifted its position 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 lifted its position in Regions Financial by 40.7% in the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after buying an additional 22,216 shares during the last quarter. Baird Financial Group Inc. lifted its position in Regions Financial by 0.7% in the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after buying an additional 511 shares during the last quarter. Brown Advisory Inc. increased its stake in Regions Financial by 4.6% during the second quarter. Brown Advisory Inc. now owns 86,006 shares of the bank’s stock worth $2,023,000 after purchasing an additional 3,751 shares during the period. Finally, Jump Financial LLC increased its stake in Regions Financial by 1,039.0% during the second quarter. Jump Financial LLC now owns 215,890 shares of the bank’s stock worth $5,078,000 after purchasing an additional 196,935 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Down 0.5%

RF stock opened at $26.60 on Wednesday. The company’s 50 day moving average price is $27.74 and its 200 day moving average price is $26.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $31.53. The firm has a market capitalization of $22.97 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.96 and a beta of 1.03.

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

Regions Financial announced that its board has authorized a share buyback program on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, March 2nd. Regions Financial’s dividend payout ratio is presently 46.29%.

Insider Buying and Selling at Regions Financial

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RF. Morgan Stanley cut their price target on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Evercore lowered shares of Regions Financial from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Piper Sandler cut their price target 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. 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. Finally, Truist Financial cut their price target on shares of Regions Financial from $29.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, March 23rd. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.75.

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.