Hennion & Walsh Asset Management Inc. Increases Stock Holdings in Regions Financial Co. (NYSE:RF)

Posted by Defense World Staff on Jul 8th, 2023

Hennion & Walsh Asset Management Inc. increased its holdings in Regions Financial Co. (NYSE:RF – Free Report) by 45.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,754 shares of the bank’s stock after acquiring an additional 9,550 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Regions Financial were worth $571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RF. Horan Securities Inc. bought a new position in Regions Financial in the first quarter worth $27,000. MCF Advisors LLC raised its holdings in Regions Financial by 2,210.5% in the fourth quarter. MCF Advisors LLC now owns 1,317 shares of the bank’s stock worth $28,000 after purchasing an additional 1,260 shares in the last quarter. Harbour Investments Inc. raised its holdings in Regions Financial by 715.1% in the fourth quarter. Harbour Investments Inc. now owns 1,891 shares of the bank’s stock worth $41,000 after purchasing an additional 1,659 shares in the last quarter. Bell Investment Advisors Inc increased its holdings in shares of Regions Financial by 30.2% during the fourth quarter. Bell Investment Advisors Inc now owns 1,951 shares of the bank’s stock valued at $42,000 after acquiring an additional 452 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC bought a new position in shares of Regions Financial during the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Regions Financial Stock Up 2.8 %

RF stock opened at $18.34 on Friday. The business’s 50-day moving average price is $17.43 and its 200-day moving average price is $19.78. The stock has a market cap of $17.21 billion, a P/E ratio of 7.84, a PEG ratio of 0.77 and a beta of 1.17. Regions Financial Co. has a twelve month low of $13.94 and a twelve month high of $24.33. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.15.

Regions Financial (NYSE:RF – Free Report) last issued its earnings results on Friday, April 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.03). The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. Regions Financial had a net margin of 28.61% and a return on equity of 16.60%. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the business posted $0.55 EPS. On average, equities research analysts forecast that Regions Financial Co. will post 2.34 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 2nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend was Thursday, June 1st. Regions Financial’s dividend payout ratio (DPR) is presently 34.19%.

Insider Activity at Regions Financial

In other news, Director J Thomas Hill acquired 11,926 shares of Regions Financial stock in a transaction on Wednesday, May 17th. The shares were acquired at an average price of $16.78 per share, with a total value of $200,118.28. Following the purchase, the director now directly owns 23,107 shares in the company, valued at approximately $387,735.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RF. JPMorgan Chase & Co. reduced their price target on Regions Financial from $26.00 to $23.00 in a report on Monday, April 10th. Citigroup reduced their price target on Regions Financial from $25.00 to $20.00 in a report on Friday, April 21st. Truist Financial reduced their price target on Regions Financial from $20.00 to $19.00 in a report on Thursday, June 29th. Piper Sandler reduced their price target on Regions Financial from $27.50 to $25.00 in a report on Monday, April 24th. Finally, StockNews.com began coverage on Regions Financial in a report on Thursday, May 18th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.22.

About Regions Financial

(Free Report)

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.