1832 Asset Management L.P. Grows Stock Position in Regions Financial Co. (NYSE:RF)

1832 Asset Management L.P. increased its position in shares of Regions Financial Co. (NYSE:RF) by 2.2% in the 1st quarter, Holdings Channel reports. The firm owned 116,701 shares of the bank’s stock after purchasing an additional 2,520 shares during the period. 1832 Asset Management L.P.’s holdings in Regions Financial were worth $2,455,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in Regions Financial during the 1st quarter worth $26,000. Laurel Wealth Advisors LLC boosted its position in Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after acquiring an additional 649 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Regions Financial in the 4th quarter valued at about $28,000. Glassman Wealth Services lifted its stake in Regions Financial by 163.3% in the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after purchasing an additional 967 shares in the last quarter. Finally, MV Capital Management Inc. boosted its holdings in shares of Regions Financial by 75.6% during the 1st 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 last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RF has been the subject of several recent research reports. Piper Sandler increased their price target on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, April 26th. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Morgan Stanley dropped their price target on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Jefferies Financial Group upped their price objective on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average target price of $21.32.

Regions Financial Stock Performance

Shares of NYSE RF traded up $0.21 during mid-day trading on Friday, hitting $22.76. 7,329,041 shares of the company were exchanged, compared to its average volume of 9,182,820. The stock 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 1-year low of $13.72 and a 1-year high of $22.85. 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 market cap of $20.83 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 2.93 and a beta of 1.18.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, sell-side analysts forecast that Regions Financial Co. will post 2 EPS for the current fiscal 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 $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.39%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling at Regions Financial

In other news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value 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 approximately $831,336.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

About Regions Financial

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.