Jupiter Topco LLC Invests $3.19 Million in Regions Financial Corporation $RF

Key Points

• Jupiter Topco LLC purchased 105,452 shares of Regions Financial during the second quarter, creating a new stake valued at approximately $3.19 million. Institutional investors collectively own 79.39% of the bank’s stock.
• Regions Financial reported quarterly earnings of $0.68 per share, exceeding estimates of $0.63, while revenue reached $1.95 billion. Analysts maintain a consensus “Hold” rating with an average price target of $32.24.
• The bank raised its quarterly dividend from $0.27 to $0.30 per share, equivalent to $1.20 annually and a 4.0% yield based on the reported share price.

Jupiter Topco LLC purchased a new stake in Regions Financial Corporation (NYSE:RF - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 105,452 shares of the bank's stock, valued at approximately $3,186,000.

Several other hedge funds have also added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its holdings in Regions Financial by 8.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank's stock valued at $63,645,000 after acquiring an additional 165,527 shares during the period. Swiss Life Asset Management Ltd lifted 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 worth $61,135,000 after acquiring an additional 1,600,926 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Regions Financial by 3.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank's stock worth $51,247,000 after acquiring an additional 69,191 shares during the period. Royal Palms Capital LLC bought a new stake in shares of Regions Financial during the fourth quarter worth approximately $4,137,000. Finally, Waterloo Capital L.P. grew its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Analyst Ratings Changes

RF has been the topic of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Regions Financial in a research report on Friday, July 17th. Wells Fargo & Company lifted their target price on Regions Financial from $28.00 to $30.00 and gave the stock an "underweight" rating in a report on Monday, July 6th. Cantor Fitzgerald boosted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Jefferies Financial Group restated a "hold" rating and issued a $32.00 price target on shares of Regions Financial in a research note on Friday, July 17th. Finally, UBS Group raised their price target on shares of Regions Financial from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.24.

Regions Financial Price Performance

Regions Financial stock opened at $29.95 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47. The stock has a market capitalization of $25.52 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.20 and a beta of 0.99. The stock has a fifty day moving average of $30.88 and a 200-day moving average of $28.78.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company earned $0.60 EPS. Regions Financial's revenue for the quarter was up .1% on a year-over-year basis. On average, sell-side analysts expect that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 1st. This is an increase from Regions Financial's previous quarterly dividend of $0.27. Regions Financial's dividend payout ratio is 48.98%.

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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