Fifth Third Bancorp Acquires 279,055 Shares of Regions Financial Corporation $RF

Key Points

• Fifth Third Bancorp increased its stake in Regions Financial by 473.9% in the first quarter, buying 279,055 additional shares for a total of 337,942 shares valued at about $8.8 million.
• Regions Financial reported Q1 EPS of $0.62, slightly beating analyst expectations, while revenue rose 5.0% year over year to $1.87 billion. The company also posted a net margin of 23.13% and return on equity of 12.70%.
• Analyst sentiment on RF remains mixed but overall cautious, with a consensus rating of “Hold” and a consensus price target of $31.28. Meanwhile, an insider recently sold shares, and institutional investors now own about 79.39% of the stock.

Fifth Third Bancorp boosted its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 473.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 337,942 shares of the bank's stock after buying an additional 279,055 shares during the quarter. Fifth Third Bancorp's holdings in Regions Financial were worth $8,827,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RF. Norges Bank bought a new position in shares of Regions Financial in the 4th quarter worth approximately $254,564,000. Victory Capital Management Inc. boosted its stake in shares of Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock worth $618,860,000 after acquiring an additional 9,312,449 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Regions Financial by 118.6% during the 4th quarter. First Trust Advisors LP now owns 7,604,482 shares of the bank's stock worth $206,081,000 after acquiring an additional 4,125,776 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank's stock worth $106,061,000 after purchasing an additional 2,980,505 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Regions Financial by 151.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank's stock worth $103,886,000 after purchasing an additional 2,371,048 shares during the period. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Up 1.9%

Shares of NYSE RF opened at $31.50 on Thursday. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $31.55. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The firm's 50-day moving average price is $28.78 and its 200-day moving average price is $28.18. The stock has a market capitalization of $26.88 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.20 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 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. On average, equities research analysts anticipate that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Insider Transactions at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of Regions Financial 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 through this link. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

RF has been the topic of several recent research reports. Truist Financial reaffirmed a "hold" rating and issued a $30.00 price objective on shares of Regions Financial in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their target price 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 target on shares of Regions Financial from $28.00 to $30.00 and gave the company an "underweight" rating in a report on Monday, July 6th. Piper Sandler dropped their price target on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a research report on Monday, March 30th. Finally, Evercore restated an "underperform" rating and set a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $31.28.

Regions Financial Company Profile

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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