57,750 Shares in Regions Financial Corporation $RF Bought by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired 57,750 shares of Regions Financial Corporation (NYSE:RF), valued at approximately $1.26 million, indicating strong institutional interest in the bank during the 1st quarter.
• Regions Financial reported a quarterly earnings per share of $0.60, exceeding analysts' expectations, alongside a 10.1% increase in revenue compared to the same quarter last year.
• The bank has announced an increase in its quarterly dividend to $0.265 per share, reflecting a strong financial standing and commitment to returning value to shareholders.

Caxton Associates LLP purchased a new position in Regions Financial Corporation (NYSE:RF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,750 shares of the bank's stock, valued at approximately $1,255,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bayforest Capital Ltd grew its stake in Regions Financial by 637.3% in 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 period. Rossby Financial LCC purchased a new stake in shares of Regions Financial in the first quarter worth $36,000. Grove Bank & Trust increased its holdings 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 valued at $41,000 after acquiring an additional 814 shares in the last quarter. Groupe la Francaise bought a new position in shares of Regions Financial during the first quarter valued at $41,000. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Regions Financial during the first quarter valued at $58,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RF. Barclays restated an "underweight" rating and set a $27.00 price target (up from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Morgan Stanley raised their target price on Regions Financial from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. DA Davidson lifted their price objective on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Finally, Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Eleven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.33.

Insider Activity at Regions Financial

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 90,915 shares of the company's stock, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger W. Jenkins acquired 4,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares of the company's stock, valued at $162,638.84. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Regions Financial Trading Down 0.8%

Shares of NYSE RF opened at $26.83 on Wednesday. The business has a fifty day moving average price of $25.76 and a 200 day moving average price of $22.92. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The stock has a market capitalization of $23.94 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.56 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The firm's revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. Equities research analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.0%. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial's dividend payout ratio is 49.30%.

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.

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