Confluence Wealth Services Inc. Acquires 2,635 Shares of Regions Financial Co. (NYSE:RF)

Confluence Wealth Services Inc. raised its holdings in Regions Financial Co. (NYSE:RF) by 7.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,375 shares of the bank’s stock after buying an additional 2,635 shares during the period. Confluence Wealth Services Inc.’s holdings in Regions Financial were worth $828,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Regions Financial during the third quarter worth approximately $26,000. Laurel Wealth Advisors LLC increased its stake in shares of Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after purchasing an additional 649 shares during the period. ICA Group Wealth Management LLC bought a new position in shares of Regions Financial during the fourth quarter worth approximately $28,000. Sound Income Strategies LLC increased its stake in shares of Regions Financial by 103.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after purchasing an additional 750 shares during the period. Finally, Glassman Wealth Services increased its stake in shares of Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after purchasing an additional 967 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Down 2.1 %

NYSE:RF traded down $0.42 during trading hours on Tuesday, hitting $19.26. 5,531,902 shares of the company were exchanged, compared to its average volume of 8,699,931. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 1.43 and a beta of 1.21. 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 Co. has a one year low of $13.72 and a one year high of $21.08. The company has a fifty day simple moving average of $19.47 and a 200 day simple moving average of $18.16.

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

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RF. Piper Sandler increased their price target on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday. Truist Financial reduced their price target on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Royal Bank of Canada increased their price target on Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $15.00 to $22.00 in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Regions Financial has an average rating of “Hold” and an average price target of $20.34.

Insider Transactions at Regions Financial

In other Regions Financial news, Director William C. Rhodes III acquired 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was purchased at an average cost of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

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.