ABC Arbitrage SA Acquires Shares of 17,406 Regions Financial Corporation (NYSE:RF)

ABC Arbitrage SA acquired a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 17,406 shares of the bank's stock, valued at approximately $378,000.

Other institutional investors have also recently bought and sold shares of the company. IFG Advisory LLC raised its position in shares of Regions Financial by 0.9% during the first quarter. IFG Advisory LLC now owns 52,531 shares of the bank's stock worth $1,142,000 after acquiring an additional 470 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Regions Financial by 8.7% during the first quarter. First Horizon Advisors Inc. now owns 6,641 shares of the bank's stock worth $144,000 after acquiring an additional 532 shares during the last quarter. Lido Advisors LLC raised its position in shares of Regions Financial by 2.6% during the fourth quarter. Lido Advisors LLC now owns 22,291 shares of the bank's stock worth $530,000 after acquiring an additional 558 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in shares of Regions Financial by 18.6% during the first quarter. Bruce G. Allen Investments LLC now owns 3,641 shares of the bank's stock worth $79,000 after acquiring an additional 571 shares during the last quarter. Finally, Stephens Inc. AR raised its position in shares of Regions Financial by 0.8% during the first quarter. Stephens Inc. AR now owns 76,922 shares of the bank's stock worth $1,672,000 after acquiring an additional 578 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Down 0.1%

NYSE:RF opened at $25.16 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. The stock has a market cap of $22.62 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.45 and a beta of 1.01. The stock has a 50-day moving average price of $23.70 and a two-hundred day moving average price of $22.58. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate 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%. Regions Financial's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. As a group, equities analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. This is an increase from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial's payout ratio is currently 46.51%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RF shares. Truist Financial restated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Citigroup boosted their target price on Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley upped their price objective on Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Stephens upped 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. Finally, TD Cowen initiated coverage on Regions Financial in a report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.33.

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.

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