Burns Matteson Capital Management LLC Takes Position in Regions Financial Corporation $RF

Burns Matteson Capital Management LLC purchased a new position in shares of Regions Financial Corporation (NYSE:RF) in the 4th quarter, Holdings Channel.com reports. The firm purchased 21,711 shares of the bank’s stock, valued at approximately $588,000.

Several other hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC increased its stake in Regions Financial by 7.2% in the 1st 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 period. Woodline Partners LP lifted its stake in shares of Regions Financial by 40.7% in 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 during the period. Quadrant Capital Group LLC lifted its stake in shares of Regions Financial by 297.9% in 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 during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Regions Financial in the second quarter valued at about $33,000. Finally, Norges Bank acquired a new position in shares of Regions Financial during the second quarter worth about $246,790,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was 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. The trade was a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Stock Up 3.4%

RF stock 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. The company’s 50-day moving average price is $27.89 and its 200 day moving average price is $26.73. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $31.53. The company 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 issued 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 company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.56 earnings per share. On average, research analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial declared that its board has initiated a stock repurchase program on Wednesday, December 10th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Regions Financial Dividend Announcement

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

Analyst Ratings Changes

RF has been the subject of several analyst reports. UBS Group reissued a “neutral” rating and set a $30.00 price target on shares of Regions Financial in a report on Wednesday, February 4th. Wells Fargo & Company cut Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a research report on Friday, January 16th. Evercore downgraded Regions Financial from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Piper Sandler decreased their price target on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $31.00 price objective on shares of Regions Financial in a report on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial has an average rating of “Hold” and an average target price of $29.91.

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.