ABC Arbitrage SA Takes Position in Regions Financial Corporation $RF

ABC Arbitrage SA purchased a new position in shares of Regions Financial Corporation (NYSE:RF) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 99,619 shares of the bank’s stock, valued at approximately $2,602,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RF. Darwin Wealth Management LLC bought a new position in Regions Financial during the 2nd quarter worth $25,000. SouthState Bank Corp grew its position in shares of Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after buying an additional 538 shares during the last quarter. Spire Wealth Management grew its position in shares of Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after buying an additional 557 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after buying an additional 854 shares during the period. Finally, Leonteq Securities AG acquired a new stake in shares of Regions Financial in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

Regions Financial Trading Up 0.1%

NYSE:RF opened at $31.05 on Tuesday. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $31.53. The firm has a 50-day moving average price of $28.66 and a two-hundred day moving average price of $28.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $26.49 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company posted $0.54 earnings per share. Regions Financial’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Regions Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a dividend of $0.265 per share. The ex-dividend date was Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.4%. Regions Financial’s dividend payout ratio is presently 44.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stephens started coverage on shares of Regions Financial in a research note on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price objective on the stock. Robert W. Baird reaffirmed an “underperform” rating and set a $28.00 target price on shares of Regions Financial in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Royal Bank Of Canada lifted their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Finally, Truist Financial reiterated a “hold” rating and set a $30.00 price objective on shares of Regions Financial in a report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.16.

About Regions Financial

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.