ABC Arbitrage SA Takes Position in Regions Financial Corporation $RF

ABC Arbitrage SA bought a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 99,619 shares of the bank's stock, valued at approximately $2,602,000.

A number of other hedge funds have also modified their holdings of RF. Swiss Life Asset Management Ltd grew its position in Regions Financial by 244.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank's stock valued at $61,135,000 after purchasing an additional 1,600,926 shares in the last quarter. Waterloo Capital L.P. grew its stake in Regions Financial by 123.7% in the fourth quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank's stock valued at $3,683,000 after purchasing an additional 75,149 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Regions Financial by 3.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank's stock valued at $51,247,000 after purchasing an additional 69,191 shares in the last quarter. iA Global Asset Management Inc. increased its position in Regions Financial by 148.4% in the 4th quarter. iA Global Asset Management Inc. now owns 129,823 shares of the bank's stock worth $3,518,000 after purchasing an additional 77,567 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its position in Regions Financial by 108.0% in the 4th quarter. Sanctuary Advisors LLC now owns 675,296 shares of the bank's stock worth $18,301,000 after purchasing an additional 350,599 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Regions Financial from $29.00 to $31.50 and gave the stock a "neutral" rating in a report on Monday, July 6th. Wells Fargo & Company lifted their price objective on Regions Financial from $28.00 to $30.00 and gave the company an "underweight" rating in a report on Monday, July 6th. Truist Financial restated a "hold" rating and set a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. Robert W. Baird reiterated an "underperform" rating and issued a $28.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Finally, Stephens began coverage on shares of Regions Financial in a research note on Monday, June 15th. They issued an "equal weight" rating and a $31.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $31.16.

Regions Financial Price Performance

NYSE:RF opened at $31.05 on Tuesday. The company has a market cap of $26.49 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.20 and a beta of 1.00. The firm's fifty day moving average price is $28.66 and its two-hundred day moving average price is $28.13. Regions Financial Corporation has a one year low of $22.70 and a one year high of $31.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same period last year, the firm posted $0.54 EPS. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts expect that Regions Financial Corporation will post 2.6 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a dividend of $0.265 per share. The ex-dividend date was Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.4%. Regions Financial's dividend payout ratio is presently 44.17%.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company's stock.

About Regions Financial

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.

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