CSU Producer Resources Inc. Invests $706,000 in Regions Financial Co. (NYSE:RF)

CSU Producer Resources Inc. acquired a new position in shares of Regions Financial Co. (NYSE:RF) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 33,534 shares of the bank’s stock, valued at approximately $706,000. Regions Financial makes up about 2.3% of CSU Producer Resources Inc.’s investment portfolio, making the stock its 18th biggest holding.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares in the last quarter. Advisor Resource Council acquired a new stake in shares of Regions Financial during the 4th quarter worth approximately $1,944,000. abrdn plc grew its holdings in shares of Regions Financial by 17.0% during the 4th quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock worth $45,546,000 after purchasing an additional 341,878 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of Regions Financial by 35.6% during the 4th quarter. Mizuho Markets Americas LLC now owns 153,136 shares of the bank’s stock worth $2,968,000 after purchasing an additional 40,200 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Regions Financial by 1,676.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock worth $1,816,000 after purchasing an additional 88,437 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Activity

In related news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction on 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 completion of the purchase, the director now owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a legal filing 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 dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value 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 disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Regions Financial Trading Up 1.6 %

Shares of NYSE RF traded up $0.32 during midday trading on Tuesday, hitting $20.11. The stock had a trading volume of 7,058,511 shares, compared to its average volume of 8,030,698. The company’s 50-day simple moving average is $19.33 and its 200 day simple moving average is $19.20. The firm has a market cap of $18.42 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 2.13 and a beta of 1.18. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. Research analysts anticipate that Regions Financial Co. will post 1.96 EPS for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 4.77%. Regions Financial’s dividend payout ratio (DPR) is currently 52.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Keefe, Bruyette & Woods cut their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday. Morgan Stanley cut their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Evercore ISI cut their target price on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Finally, Truist Financial raised their target price on Regions Financial from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Monday. Two 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.39.

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.