32,606 Shares in Regions Financial Corporation $RF Purchased by ABC Arbitrage SA

ABC Arbitrage SA bought a new stake in shares of Regions Financial Corporation (NYSE:RF) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 32,606 shares of the bank’s stock, valued at approximately $860,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC lifted its holdings in shares of Regions Financial by 163.2% during the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after buying an additional 656 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Regions Financial during the 2nd quarter valued at approximately $25,000. FNY Investment Advisers LLC acquired a new stake in Regions Financial in the 2nd quarter worth $30,000. United Community Bank bought a new stake in shares of Regions Financial in the 3rd quarter worth approximately $30,000. Finally, Catalyst Capital Advisors LLC bought a new position in Regions Financial in the second quarter worth $32,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 0.4%

Shares of NYSE:RF opened at $30.96 on Thursday. The business’s 50 day simple moving average is $28.16 and its 200 day simple moving average is $26.48. The company has a market capitalization of $27.15 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.09 and a beta of 1.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $31.32.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.04). The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. On average, research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 annualized dividend and a dividend yield of 3.4%. Regions Financial’s dividend payout ratio (DPR) is presently 46.29%.

Regions Financial declared that its board has approved a stock buyback program on Wednesday, December 10th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently commented on RF shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. The Goldman Sachs Group restated a “buy” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Wells Fargo & Company cut shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective for the company. in a research report on Friday, January 16th. Finally, Truist Financial upped their price objective on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $29.84.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares in the company, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Company Profile

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.