Quantbot Technologies LP Invests $1.57 Million in Regions Financial Corporation $RF

Key Points

• Quantbot Technologies initiated a $1.57 million position in Regions Financial during the second quarter, buying 52,094 shares. Institutional investors collectively own 79.39% of the bank’s stock.
• Regions Financial reported quarterly earnings of $0.68 per share, exceeding analyst expectations of $0.63, while revenue reached $1.95 billion. The company also raised its quarterly dividend to $0.30, equating to a 3.9% annual yield.
• RF shares opened at $30.62, near the analyst consensus price target of $32.24. Analysts maintain a consensus “Hold” rating, with six Buy, ten Hold, and four Sell recommendations.

Quantbot Technologies LP bought 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 & Exchange Commission. The fund bought 52,094 shares of the bank's stock, valued at approximately $1,573,000.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Regions Financial during the fourth quarter worth $254,564,000. Victory Capital Management Inc. raised its holdings in shares of Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock valued at $618,860,000 after buying an additional 9,312,449 shares during the period. First Trust Advisors LP lifted its stake in Regions Financial by 75.7% during the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank's stock worth $348,936,000 after acquiring an additional 5,754,487 shares in the last quarter. Korea Investment CORP purchased a new position in Regions Financial during the 2nd quarter valued at about $99,190,000. Finally, Qube Research & Technologies Ltd boosted its holdings in Regions Financial by 286.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank's stock valued at $106,061,000 after acquiring an additional 2,980,505 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Price Performance

Shares of RF opened at $30.62 on Tuesday. The firm has a market capitalization of $26.09 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.16 and a beta of 1.00. The firm's fifty day simple moving average is $30.70 and its 200-day simple moving average is $28.80. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating 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 firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. Equities analysts forecast that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. 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 (DPR) is currently 48.98%.

Analysts Set New Price Targets

RF has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an "underweight" rating in a research note on Monday, July 6th. Robert W. Baird reissued an "underperform" rating and issued a $28.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. DA Davidson lifted their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Regions Financial from $31.50 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Finally, Truist Financial increased their target price on shares of Regions Financial from $30.00 to $34.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $32.24.

Regions Financial 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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