Royal Palms Capital LLC Invests $4.14 Million in Regions Financial Corporation $RF

Key Points

• Royal Palms Capital LLC opened a new position in Regions Financial during the fourth quarter, buying 152,657 shares worth about $4.14 million. The stake makes RF its third-largest holding and about 4.9% of its portfolio.
• Regions Financial continues to attract institutional interest, with several other investors adding to or starting positions in the bank. Overall, institutional investors own 79.39% of the company.
• The bank recently reported Q1 earnings of $0.62 per share, edging past estimates, and it also declared a quarterly dividend of $0.265 per share for a 3.8% yield. Analysts currently rate the stock a consensus Hold with an average target price of $30.47.

Royal Palms Capital LLC purchased a new position in Regions Financial Corporation (NYSE:RF - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 152,657 shares of the bank's stock, valued at approximately $4,137,000. Regions Financial comprises about 4.9% of Royal Palms Capital LLC's holdings, making the stock its 3rd largest holding.

Other institutional investors have also recently made changes to their positions in the company. AGF Management Ltd. bought a new position in shares of Regions Financial in the 3rd quarter worth $1,669,000. American Century Companies Inc. increased its holdings in shares of Regions Financial by 85.9% in the 3rd quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank's stock worth $121,976,000 after buying an additional 2,137,062 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Regions Financial by 16.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,113,450 shares of the bank's stock worth $29,648,000 after buying an additional 161,118 shares during the last quarter. Stevens Capital Management LP increased its holdings in shares of Regions Financial by 355.9% in the 3rd quarter. Stevens Capital Management LP now owns 42,850 shares of the bank's stock worth $1,130,000 after buying an additional 33,450 shares during the last quarter. Finally, ABC Arbitrage SA bought a new position in shares of Regions Financial in the 3rd quarter worth $860,000. Institutional investors own 79.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RF shares. JPMorgan Chase & Co. decreased their price target on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, April 7th. Truist Financial reaffirmed a "hold" rating and set a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. DA Davidson increased their target price on shares of Regions Financial from $31.00 to $32.00 and gave the company a "buy" rating in a report on Monday, April 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $32.00 target price on shares of Regions Financial in a report on Tuesday, March 3rd. Finally, Morgan Stanley reduced their target price on shares of Regions Financial from $37.00 to $34.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 31st. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $30.47.

Regions Financial Price Performance

RF stock opened at $28.26 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a 52 week low of $20.79 and a 52 week high of $31.53. The firm's fifty day moving average is $27.07 and its 200 day moving average is $27.34. The firm has a market cap of $24.12 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.09 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the firm earned $0.54 EPS. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts predict that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.8%. Regions Financial's dividend payout ratio is presently 44.17%.

Insiders Place Their Bets

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

About Regions Financial

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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