Regions Financial Corporation $RF Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly reduced its stake in Regions Financial Corporation by 76.6%, now holding 246,617 shares valued at approximately $5.36 million.
• Regions Financial reported a quarterly earnings per share of $0.60, surpassing analysts' expectations of $0.56 and showing a 10.1% increase in revenue compared to the previous year.
• The bank announced a quarterly dividend increase to $0.265 per share, reflecting an annualized yield of 3.9%, up from $0.25 previously.

Trexquant Investment LP cut its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 76.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 246,617 shares of the bank's stock after selling 808,980 shares during the quarter. Trexquant Investment LP's holdings in Regions Financial were worth $5,359,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RF. IFG Advisory LLC increased its position in shares of Regions Financial by 0.9% during the first quarter. IFG Advisory LLC now owns 52,531 shares of the bank's stock worth $1,142,000 after acquiring an additional 470 shares during the period. Horizon Investments LLC increased its position in shares of Regions Financial by 3.9% during the first quarter. Horizon Investments LLC now owns 13,369 shares of the bank's stock worth $291,000 after acquiring an additional 508 shares during the period. First Horizon Advisors Inc. increased its position in shares of Regions Financial by 8.7% during the first quarter. First Horizon Advisors Inc. now owns 6,641 shares of the bank's stock worth $144,000 after acquiring an additional 532 shares during the period. Lido Advisors LLC grew its stake in shares of Regions Financial by 2.6% during the fourth quarter. Lido Advisors LLC now owns 22,291 shares of the bank's stock worth $530,000 after purchasing an additional 558 shares in the last quarter. Finally, Bruce G. Allen Investments LLC grew its stake in shares of Regions Financial by 18.6% during the first quarter. Bruce G. Allen Investments LLC now owns 3,641 shares of the bank's stock worth $79,000 after purchasing an additional 571 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

NYSE RF traded down $0.35 during trading hours on Friday, hitting $27.01. The company had a trading volume of 17,454,380 shares, compared to its average volume of 10,628,284. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a market cap of $24.10 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.55 and a beta of 1.02. The business has a 50 day moving average of $25.56 and a 200-day moving average of $22.87.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Regions Financial's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.9%. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. Regions Financial's payout ratio is currently 49.30%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Regions Financial in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 target price for the company. Cowen assumed coverage on Regions Financial in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Stephens boosted their target price on Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Truist Financial restated a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. Finally, DA Davidson boosted their target price on Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Eleven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $27.33.

Insider Activity

In related news, Director Roger W. Jenkins bought 4,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares in the company, valued at approximately $162,638.84. This trade represents a 167.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the transaction, the executive vice president directly owned 90,915 shares in the company, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

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.