Lombard Odier Asset Management Switzerland SA Takes $872,000 Position in Regions Financial Corporation $RF

Key Points

• Lombard Odier Asset Management acquired 33,400 shares of Regions Financial worth approximately $872,000, while institutional investors collectively own 79.39% of the company.
• Regions Financial exceeded quarterly expectations, reporting $0.68 in EPS versus the $0.63 consensus estimate and $1.95 billion in revenue. The bank also raised its quarterly dividend from $0.27 to $0.30, implying a 3.9% annualized yield.
• Analysts maintain a broadly neutral view, with a consensus “Hold” rating and a $32.21 price target, compared with the stock’s reported opening price of $30.75.

Lombard Odier Asset Management Switzerland SA bought a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 33,400 shares of the bank's stock, valued at approximately $872,000.

Several other hedge funds have also recently bought and sold shares of RF. Root Financial Partners LLC increased its holdings in Regions Financial by 3.9% in the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank's stock valued at $248,000 after purchasing an additional 346 shares in the last quarter. Master S Wealth Management Inc. grew its stake in shares of Regions Financial by 1.0% in the first quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank's stock valued at $1,009,000 after buying an additional 372 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Regions Financial by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank's stock valued at $911,000 after buying an additional 373 shares in the last quarter. Legacy Wealth Managment LLC ID grew its stake in shares of Regions Financial by 17.3% in the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank's stock valued at $68,000 after buying an additional 381 shares in the last quarter. Finally, Lcnb Corp raised its holdings in shares of Regions Financial by 3.8% during the 4th quarter. Lcnb Corp now owns 10,725 shares of the bank's stock valued at $291,000 after buying an additional 390 shares during the period. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Down 0.3%

RF stock opened at $30.75 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $29.43 and a 200-day simple moving average of $28.38. The company has a market capitalization of $26.25 billion, a P/E ratio of 12.55, a PEG ratio of 1.18 and a beta of 1.00. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The firm's quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that Regions Financial Corporation will post 2.62 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Regions Financial's previous quarterly dividend of $0.27. Regions Financial's payout ratio is presently 43.27%.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of analyst reports. Stephens began coverage on Regions Financial in a report on Monday, June 15th. They issued an "equal weight" rating and a $31.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an "underweight" rating in a research note on Monday, July 6th. Jefferies Financial Group reissued a "hold" rating and set a $32.00 target price on shares of Regions Financial in a research report on Friday, July 17th. Truist Financial upped their target price on shares of Regions Financial from $30.00 to $34.00 and gave the company a "hold" rating in a research note on Tuesday, July 21st. Finally, DA Davidson raised their price target on shares of Regions Financial from $33.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, Regions Financial has an average rating of "Hold" and a consensus price target of $32.21.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company's stock.

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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