Arrowpoint Investment Partners Singapore Pte. Ltd. Buys New Holdings in Regions Financial Corporation (NYSE:RF)

Key Points

• Arrowpoint Investment Partners Singapore has acquired a new stake in Regions Financial Corporation, purchasing 24,600 shares valued at approximately $535,000.
• Regions Financial recently declared a quarterly dividend of $0.265, up from $0.25, representing an annualized yield of 4.3%.
• The stock has received various ratings from analysts, with Barclays maintaining an "underweight" rating and setting a target price of $27.00, while assessing a consensus price target of $27.33.

Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 24,600 shares of the bank's stock, valued at approximately $535,000.

Several other institutional investors and hedge funds also recently bought and sold shares of RF. Bayforest Capital Ltd lifted its position in shares of Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after purchasing an additional 1,058 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Regions Financial during the first quarter worth $36,000. Grove Bank & Trust lifted its position in shares of Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after purchasing an additional 814 shares during the last quarter. Allworth Financial LP lifted its position in shares of Regions Financial by 30.7% during the first quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after purchasing an additional 786 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Regions Financial by 181.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after purchasing an additional 2,078 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Cowen assumed coverage on Regions Financial in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Barclays restated an "underweight" rating and issued a $27.00 price objective (up from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Stephens lifted their price objective on Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Truist Financial restated a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Finally, The Goldman Sachs Group decreased their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.33.

Insider Transactions at Regions Financial

In other Regions Financial news, Director Roger W. Jenkins purchased 4,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the purchase, the director owned 6,383 shares of the company's stock, valued at approximately $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David R. Keenan sold 30,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the sale, the executive vice president owned 90,915 shares in the company, valued at $2,273,784.15. The trade was a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Regions Financial Stock Up 0.8%

Regions Financial stock traded up $0.20 during trading hours on Thursday, reaching $26.04. The stock had a trading volume of 17,436,266 shares, compared to its average volume of 10,013,761. The company has a market cap of $23.23 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.46 and a beta of 1.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The business's 50 day moving average price is $24.24 and its 200-day moving average price is $22.63. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company's revenue was up 10.1% on a year-over-year basis. Sell-side analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.1%. Regions Financial's payout ratio is presently 49.30%.

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.