Renaissance Technologies LLC Has $56 Million Stock Holdings in Regions Financial Corporation $RF

Renaissance Technologies LLC raised its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 38.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,144,021 shares of the bank's stock after purchasing an additional 597,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.25% of Regions Financial worth $56,002,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RF. GC Wealth Management RIA LLC raised its stake in shares of Regions Financial by 18.7% during the 1st quarter. GC Wealth Management RIA LLC now owns 19,085 shares of the bank's stock worth $498,000 after purchasing an additional 3,004 shares in the last quarter. Compound Planning Inc. grew its stake in shares of Regions Financial by 2.1% in the first quarter. Compound Planning Inc. now owns 32,156 shares of the bank's stock valued at $840,000 after buying an additional 675 shares in the last quarter. Modern Wealth Management LLC grew its stake in shares of Regions Financial by 18.7% in the first quarter. Modern Wealth Management LLC now owns 10,187 shares of the bank's stock valued at $268,000 after buying an additional 1,605 shares in the last quarter. First Trust Advisors LP increased its holdings in Regions Financial by 75.7% during the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank's stock worth $348,936,000 after buying an additional 5,754,487 shares during the last quarter. Finally, ABN Amro Investment Solutions raised its position in Regions Financial by 2.7% during the first quarter. ABN Amro Investment Solutions now owns 41,085 shares of the bank's stock worth $1,073,000 after acquiring an additional 1,081 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.

Regions Financial Price Performance

NYSE:RF opened at $30.82 on Monday. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The firm's 50-day simple moving average is $29.36 and its 200 day simple moving average is $28.37. The firm has a market cap of $26.31 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.18 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.94 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The business's revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts predict that Regions Financial Corporation will post 2.62 earnings per share for the current year.

Regions Financial Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on RF. Stephens initiated coverage on shares of Regions Financial in a research note on Monday, June 15th. They issued an "equal weight" rating and a $31.00 price target for the company. Evercore restated an "underperform" rating and set a $31.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. Cantor Fitzgerald upped their target price on shares of Regions Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. raised their target price on shares of Regions Financial from $29.00 to $31.50 and gave the company a "neutral" rating in a research note on Monday, July 6th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Regions Financial in a report on Friday, July 17th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of "Hold" and an average price target of $32.21.

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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