Lee Danner & Bass Inc. Acquires 48,662 Shares of Regions Financial Co. (NYSE:RF)

Lee Danner & Bass Inc. lifted its holdings in shares of Regions Financial Co. (NYSE:RF) by 22.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 260,947 shares of the bank’s stock after purchasing an additional 48,662 shares during the period. Lee Danner & Bass Inc.’s holdings in Regions Financial were worth $6,137,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kiker Wealth Management LLC bought a new position in Regions Financial in the fourth quarter valued at about $313,000. Northwest & Ethical Investments L.P. bought a new position in Regions Financial in the fourth quarter valued at about $1,205,000. Blueshift Asset Management LLC bought a new position in Regions Financial in the fourth quarter valued at about $320,000. iA Global Asset Management Inc. boosted its holdings in Regions Financial by 72.5% in the fourth quarter. iA Global Asset Management Inc. now owns 103,178 shares of the bank’s stock valued at $2,427,000 after acquiring an additional 43,375 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Regions Financial by 96.0% in the fourth quarter. Teacher Retirement System of Texas now owns 423,785 shares of the bank’s stock valued at $9,967,000 after acquiring an additional 207,595 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson bought 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $21.18 per share, with a total value of $48,714.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have bought 3,993 shares of company stock valued at $89,682. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial raised their price target on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. Piper Sandler raised their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays raised their target price on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. The Goldman Sachs Group raised their target price on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley restated an “equal weight” rating and set a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Regions Financial Trading Down 0.4 %

NYSE RF opened at $21.66 on Friday. The firm has a market cap of $19.62 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock’s 50-day moving average is $23.49 and its 200-day moving average is $23.95. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. Regions Financial’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. Sell-side analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio is presently 51.55%.

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.