Hourglass Capital LLC Increases Holdings in Regions Financial Corporation $RF

Key Points

• Hourglass Capital LLC increased its holdings in Regions Financial Corporation by 12.6%, owning 182,189 shares valued at approximately $4.29 million after purchasing 20,399 additional shares in the second quarter.
• Regions Financial reported a quarterly earnings per share of $0.39 and announced a $0.265 quarterly dividend with a yield of 4.3%, to be paid on January 2nd.
• Currently, the stock has a market capitalization of $22.07 billion with a 12-month price range of $17.74 to $27.96, and analysts maintain a consensus rating of "Moderate Buy" with an average price target of $27.79.

Hourglass Capital LLC raised its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 12.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 182,189 shares of the bank's stock after buying an additional 20,399 shares during the period. Hourglass Capital LLC's holdings in Regions Financial were worth $4,285,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Regions Financial by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank's stock valued at $52,762,000 after acquiring an additional 21,169 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in shares of Regions Financial by 34.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank's stock valued at $1,444,000 after acquiring an additional 15,820 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Regions Financial by 13.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank's stock valued at $3,424,000 after acquiring an additional 18,684 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in Regions Financial by 62.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock worth $440,000 after buying an additional 7,822 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new position in Regions Financial in the 1st quarter worth $272,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Down 1.7%

Shares of NYSE RF opened at $24.74 on Thursday. The firm's 50-day moving average price is $26.28 and its 200-day moving average price is $23.64. 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 capitalization of $22.07 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.20 and a beta of 1.02. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The company had revenue of $1.81 billion for the quarter. On average, equities research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, December 1st. Regions Financial's dividend payout ratio is 49.30%.

Insider Buying and Selling

In other Regions Financial news, Director Roger W. Jenkins acquired 4,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the purchase, the director owned 6,383 shares in the company, valued at approximately $162,638.84. This trade represents a 167.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP David R. Keenan sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the transaction, the executive vice president owned 90,915 shares in the company, valued at approximately $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. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RF. Cantor Fitzgerald began coverage on shares of Regions Financial in a report on Wednesday, September 10th. They issued an "overweight" rating and a $30.00 target price for the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Regions Financial in a report on Wednesday, October 8th. Wall Street Zen raised shares of Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Evercore ISI boosted their price target on shares of Regions Financial from $28.00 to $29.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. Finally, Stephens reiterated an "equal weight" rating and issued a $27.00 price target (down previously from $30.00) on shares of Regions Financial in a research note on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.79.

About Regions Financial

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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