Arrowstreet Capital Limited Partnership Boosts Stake in Regions Financial Corporation $RF

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 620.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,563,492 shares of the bank’s stock after purchasing an additional 2,207,585 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.29% of Regions Financial worth $60,293,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RF. Hardy Reed LLC lifted its holdings in Regions Financial by 1.6% during the 2nd quarter. Hardy Reed LLC now owns 25,747 shares of the bank’s stock worth $606,000 after buying an additional 404 shares during the last quarter. Greenwood Capital Associates LLC grew its stake in shares of Regions Financial by 0.6% in the 2nd quarter. Greenwood Capital Associates LLC now owns 72,400 shares of the bank’s stock valued at $1,703,000 after purchasing an additional 427 shares during the last quarter. Signet Financial Management LLC increased its holdings in shares of Regions Financial by 4.6% in the second quarter. Signet Financial Management LLC now owns 10,896 shares of the bank’s stock valued at $256,000 after purchasing an additional 483 shares during the period. Master S Wealth Management Inc. lifted its holdings in shares of Regions Financial by 1.2% during the second quarter. Master S Wealth Management Inc. now owns 40,303 shares of the bank’s stock worth $948,000 after purchasing an additional 485 shares during the period. Finally, BXM Wealth LLC lifted its holdings in shares of Regions Financial by 4.8% during the second quarter. BXM Wealth LLC now owns 10,925 shares of the bank’s stock worth $257,000 after purchasing an additional 500 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of RF opened at $26.42 on Friday. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.60. The company’s 50 day simple moving average is $24.94 and its 200 day simple moving average is $24.75. The company has a market capitalization of $23.16 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.16 and a beta of 1.04. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The company had revenue of $1.81 billion during the quarter. On average, sell-side analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. Regions Financial’s dividend payout ratio is currently 46.70%.

Analysts Set New Price Targets

RF has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Stephens reiterated an “equal weight” rating and issued a $27.00 price objective (down previously from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Morgan Stanley set a $32.00 price target on shares of Regions Financial in a research note on Monday, September 29th. Cowen reiterated a “buy” rating on shares of Regions Financial in a report on Tuesday, October 21st. Finally, Cantor Fitzgerald started coverage on shares of Regions Financial in a report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Regions Financial presently has an average rating of “Hold” and an average target price of $28.13.

Regions Financial 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.