1832 Asset Management L.P. Acquires 2,520 Shares of Regions Financial Co. (NYSE:RF)

1832 Asset Management L.P. raised its holdings in Regions Financial Co. (NYSE:RF) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 116,701 shares of the bank’s stock after buying an additional 2,520 shares during the quarter. 1832 Asset Management L.P.’s holdings in Regions Financial were worth $2,455,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RF. EntryPoint Capital LLC bought a new position in Regions Financial in the first quarter worth about $26,000. Laurel Wealth Advisors LLC raised its position in shares of Regions Financial by 86.5% in the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after acquiring an additional 649 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at approximately $28,000. Glassman Wealth Services boosted its position in shares of Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after purchasing an additional 967 shares in the last quarter. Finally, MV Capital Management Inc. grew its stake in Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after purchasing an additional 618 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regions Financial

In related news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by corporate insiders.

Regions Financial Stock Performance

Shares of NYSE RF traded up $0.21 during trading on Friday, reaching $22.76. 7,329,041 shares of the company traded hands, compared to its average volume of 9,182,820. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a 50 day simple moving average of $19.83 and a 200-day simple moving average of $19.42. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $22.85. The stock has a market capitalization of $20.83 billion, a PE ratio of 12.37, a P/E/G ratio of 2.93 and a beta of 1.18.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the company posted $0.59 earnings per share. Equities research analysts anticipate that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is 52.17%.

Analysts Set New Price Targets

Several equities analysts have commented on RF shares. Keefe, Bruyette & Woods lowered their price objective on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Royal Bank of Canada boosted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Citigroup upped their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Truist Financial boosted their price target on Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Finally, Piper Sandler raised their price objective on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.32.

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.