Quantitative Investment Management LLC Buys Shares of 83,834 Regions Financial Corporation $RF

Key Points

• Quantitative Investment Management acquired 83,834 Regions Financial shares in the second quarter, valued at approximately $2.53 million. Institutional investors and hedge funds collectively own 79.39% of RF’s outstanding stock.
• Regions Financial reported quarterly EPS of $0.68, exceeding the $0.63 analyst consensus, while revenue reached $1.95 billion. Analysts project full-year EPS of $2.63.
• The bank raised its quarterly dividend to $0.30 per share from $0.27, implying a $1.20 annualized payout and a 4.0% yield; analysts’ consensus rating remains “Hold,” with a $32.24 target price.

Quantitative Investment Management LLC acquired a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 83,834 shares of the bank's stock, valued at approximately $2,531,000.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC raised its stake in Regions Financial by 7.2% during the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank's stock worth $416,000 after buying an additional 1,278 shares during the period. Woodline Partners LP lifted its stake in Regions Financial by 40.7% in the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank's stock valued at $1,669,000 after acquiring an additional 22,216 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Regions Financial by 0.7% during the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank's stock worth $1,687,000 after purchasing an additional 511 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Regions Financial by 81.2% during the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank's stock worth $275,000 after buying an additional 5,233 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Regions Financial by 5.0% during the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank's stock valued at $3,320,000 after purchasing an additional 6,690 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

Shares of RF opened at $30.35 on Monday. The company has a market capitalization of $25.86 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $30.84 and a 200-day moving average of $28.80.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. 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 report on Monday, July 6th. Citigroup upped their price objective on Regions Financial from $32.00 to $36.00 and gave the company a "buy" rating in a report on Monday, July 20th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $34.00 target price on shares of Regions Financial in a report on Monday, July 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Regions Financial in a research note on Friday, July 17th. Finally, Jefferies Financial Group restated a "hold" rating and set a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Regions Financial has an average rating of "Hold" and a consensus target price of $32.24.

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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