Amalgamated Bank Acquires 9,823 Shares of Regions Financial Co. (NYSE:RF)

Amalgamated Bank raised its holdings in shares of Regions Financial Co. (NYSE:RF) by 4.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 244,109 shares of the bank’s stock after purchasing an additional 9,823 shares during the period. Amalgamated Bank’s holdings in Regions Financial were worth $5,136,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RF. Teacher Retirement System of Texas grew its stake in shares of Regions Financial by 2.9% in the third quarter. Teacher Retirement System of Texas now owns 72,693 shares of the bank’s stock worth $1,250,000 after acquiring an additional 2,025 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Regions Financial by 11.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 80,231 shares of the bank’s stock valued at $1,380,000 after purchasing an additional 8,431 shares during the last quarter. FDx Advisors Inc. bought a new stake in Regions Financial during the 3rd quarter valued at about $306,000. Principal Financial Group Inc. lifted its stake in shares of Regions Financial by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,097,016 shares of the bank’s stock worth $18,869,000 after buying an additional 20,229 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Regions Financial by 1.1% during the third quarter. California Public Employees Retirement System now owns 1,849,389 shares of the bank’s stock valued at $31,809,000 after buying an additional 20,300 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the transaction, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Regions Financial news, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The shares were purchased at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RF. Argus lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods increased their price objective on Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Truist Financial decreased their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Stephens reaffirmed an “equal weight” rating and set a $21.00 price target on shares of Regions Financial in a report on Tuesday, January 23rd. Finally, Morgan Stanley decreased their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Regions Financial has an average rating of “Hold” and a consensus price target of $20.34.

Regions Financial Stock Performance

NYSE RF traded up $0.01 on Tuesday, reaching $19.89. 5,415,621 shares of the stock were exchanged, compared to its average volume of 8,286,171. The firm has a market capitalization of $18.21 billion, a PE ratio of 10.81, a PEG ratio of 1.48 and a beta of 1.21. Regions Financial Co. has a one year low of $13.72 and a one year high of $21.08. The company’s 50-day simple moving average is $19.76 and its two-hundred day simple moving average is $18.64. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 EPS. Analysts expect that Regions Financial Co. will post 1.95 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Monday, June 3rd. Regions Financial’s payout ratio is 52.17%.

Regions Financial 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.