Cincinnati Specialty Underwriters Insurance CO Invests $1.87 Million in Regions Financial Co. (NYSE:RF)

Cincinnati Specialty Underwriters Insurance CO acquired a new position in Regions Financial Co. (NYSE:RF) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,733 shares of the bank’s stock, valued at approximately $1,867,000.

Several other large investors have also recently bought and sold shares of the business. Whittier Trust Co. raised its position in Regions Financial by 16.5% in the fourth quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock worth $75,000 after acquiring an additional 549 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Regions Financial by 0.6% in the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after buying an additional 551 shares in the last quarter. CWM LLC increased its position in shares of Regions Financial by 1.4% in the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after buying an additional 556 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Regions Financial by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after buying an additional 565 shares in the last quarter. Finally, Signet Financial Management LLC increased its position in shares of Regions Financial by 4.9% in the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after buying an additional 584 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RF shares. Keefe, Bruyette & Woods dropped their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Jefferies Financial Group raised their price target on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Evercore ISI dropped their price target 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, Piper Sandler raised their price target on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.39.

Regions Financial Trading Up 1.6 %

NYSE:RF traded up $0.32 during mid-day trading on Tuesday, reaching $20.11. The company’s stock had a trading volume of 7,058,511 shares, compared to its average volume of 8,030,698. The company’s fifty day simple moving average is $19.33 and its two-hundred day simple moving average is $19.20. 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 Co. has a twelve month low of $13.72 and a twelve month high of $21.08. The stock has a market cap of $18.42 billion, a P/E ratio of 10.91, a P/E/G ratio of 2.13 and a beta of 1.18.

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

Regions Financial Announces Dividend

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

Insider Activity

In other news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the sale, the executive vice president now directly owns 41,671 shares in the company, valued at approximately $831,336.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William C. Rhodes III bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The disclosure for this purchase can be found here. 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.