Eventide Asset Management LLC Has $5.61 Million Stake in Regions Financial Corporation $RF

Key Points

• Eventide Asset Management cut its Regions Financial stake by 61.7% in the fourth quarter, leaving it with 205,156 shares valued at about $5.61 million.
• Regions Financial reported Q1 earnings of $0.62 per share, beating estimates by a penny, while revenue rose 5% year over year to $1.87 billion, though it came in slightly below analyst expectations.
• The company declared a quarterly dividend of $0.265 per share, implying an annualized yield of about 3.6%; analysts currently have a consensus Hold rating with an average price target of $30.47.

Eventide Asset Management LLC trimmed its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 61.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 205,156 shares of the bank's stock after selling 330,382 shares during the period. Eventide Asset Management LLC's holdings in Regions Financial were worth $5,605,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RF. Norges Bank acquired a new stake in Regions Financial during the fourth quarter worth about $254,564,000. Victory Capital Management Inc. grew its stake in Regions Financial by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock worth $618,860,000 after buying an additional 9,312,449 shares in the last quarter. First Trust Advisors LP grew its stake in Regions Financial by 118.6% during the fourth quarter. First Trust Advisors LP now owns 7,604,482 shares of the bank's stock worth $206,081,000 after buying an additional 4,125,776 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Regions Financial by 286.2% during the third quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank's stock worth $106,061,000 after buying an additional 2,980,505 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Regions Financial by 151.2% during the third quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank's stock worth $103,886,000 after buying an additional 2,371,048 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Brean Capital began coverage on shares of Regions Financial in a research note on Thursday, March 12th. They set a "neutral" rating on the stock. Piper Sandler reduced their price target on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, March 30th. Royal Bank Of Canada raised their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $32.00 price target on shares of Regions Financial in a research note on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Regions Financial has a consensus rating of "Hold" and an average target price of $30.47.

Regions Financial Stock Down 0.1%

Regions Financial stock opened at $29.24 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a 52-week low of $21.40 and a 52-week high of $31.53. The firm has a 50 day moving average price of $27.79 and a two-hundred day moving average price of $27.67. The firm has a market cap of $24.95 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.14 and a beta of 1.00.

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 (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business earned $0.54 EPS. The company's revenue was up 5.0% compared to the same quarter last year. Equities analysts predict that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.265 per share. The ex-dividend date is Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.6%. Regions Financial's dividend payout ratio (DPR) is presently 44.17%.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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