Regions Financial Corporation $RF Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its stake in Regions Financial Corporation by 246.1%, acquiring a total of 94,494 shares valued at approximately $2,053,000.
• Regions Financial recently declared a quarterly dividend of $0.265, up from $0.25, reflecting a dividend yield of 4.1%.
• Brokerages have shown positive sentiment towards Regions Financial, with eleven analysts rating it a "Buy" and an average price target of $27.33.

AlphaQuest LLC raised its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 246.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,494 shares of the bank's stock after purchasing an additional 67,188 shares during the period. AlphaQuest LLC's holdings in Regions Financial were worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Bayforest Capital Ltd raised its position in Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after purchasing an additional 1,058 shares in the last quarter. Rossby Financial LCC purchased a new position in shares of Regions Financial in the 1st quarter valued at about $36,000. Grove Bank & Trust increased its holdings in shares of Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after acquiring an additional 814 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Regions Financial by 181.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock valued at $76,000 after acquiring an additional 2,078 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Regions Financial by 30.7% in the 1st quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock valued at $69,000 after acquiring an additional 786 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RF. Citigroup increased their price objective on Regions Financial from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wall Street Zen upgraded Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. DA Davidson increased their price objective on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a report on Monday, July 21st. Truist Financial restated a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. Finally, Barclays restated an "underweight" rating and set a $27.00 price target (up previously from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Eleven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.33.

Insider Buying and Selling

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

Regions Financial Stock Performance

Regions Financial stock traded up $0.45 during mid-day trading on Tuesday, reaching $27.10. 19,624,929 shares of the company were exchanged, compared to its average volume of 10,318,039. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The firm's 50-day simple moving average is $24.80 and its two-hundred day simple moving average is $22.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $24.18 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.54 and a beta of 1.01.

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 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 company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the firm earned $0.52 EPS. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. Equities analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's payout ratio is 46.51%.

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.