Regions Financial Corporation $RF Holdings Raised by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in Regions Financial Corporation by 37.7%, acquiring an additional 117,588 shares, bringing its total holdings to 429,678 shares valued at approximately $9.34 million.
• Regions Financial recently announced a quarterly dividend increase to $0.265 per share, up from $0.25, representing an annual yield of 4.1%.
• Analysts have a consensus rating of "Moderate Buy" for Regions Financial, with a price target range suggesting significant upside potential, rising from $24.00 to $29.00 by several research firms.

Quantbot Technologies LP boosted its position in Regions Financial Corporation (NYSE:RF - Free Report) by 37.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 429,678 shares of the bank's stock after buying an additional 117,588 shares during the period. Quantbot Technologies LP's holdings in Regions Financial were worth $9,337,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RF. Bayforest Capital Ltd lifted its holdings in Regions Financial by 637.3% in the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after acquiring an additional 1,058 shares during the period. Rossby Financial LCC purchased a new stake in Regions Financial in the 1st quarter valued at about $36,000. Grove Bank & Trust grew its holdings in shares of Regions Financial by 76.6% during the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after purchasing an additional 814 shares during the period. Allworth Financial LP lifted its position in Regions Financial by 30.7% during the 1st quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after acquiring an additional 786 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in Regions Financial by 181.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after acquiring an additional 2,078 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Insider Buying and Selling at Regions Financial

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

Wall Street Analysts Forecast Growth

RF has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Barclays reissued an "underweight" rating and set a $27.00 price target (up from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. Citigroup upped their price target on Regions Financial from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. TD Cowen started coverage on Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 price target on the stock. Finally, Morgan Stanley upped their price target on Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Eleven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Regions Financial presently has a consensus rating of "Moderate Buy" and an average price target of $27.33.

Regions Financial Stock Performance

RF traded up $1.02 during trading on Friday, reaching $26.76. 17,468,527 shares of the company were exchanged, compared to its average volume of 10,188,645. The stock has a market cap of $23.88 billion, a P/E ratio of 12.45, a PEG ratio of 1.49 and a beta of 1.01. The firm has a 50 day moving average of $24.59 and a 200 day moving average of $22.67. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 4.0%. Regions Financial's dividend payout ratio (DPR) is currently 46.51%.

Regions Financial Profile

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.