Squarepoint Ops LLC Has $98.21 Million Holdings in Regions Financial Corporation $RF

Key Points

• Squarepoint Ops LLC reduced its stake in Regions Financial by 10.2% in the fourth quarter, but still held 3.62 million shares worth about $98.2 million.
• Regions Financial reported quarterly EPS of $0.62, narrowly topping expectations, while revenue came in at $1.87 billion versus the $1.92 billion estimate. The company also said revenue rose 5% year over year.
• The bank declared a quarterly dividend of $0.265 per share, implying an annualized yield of about 3.7%. Shares were down 2.3% on the day to $28.60, and analysts currently have a consensus Hold rating with an average price target of $30.73.

Squarepoint Ops LLC cut its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,623,792 shares of the bank's stock after selling 410,433 shares during the period. Squarepoint Ops LLC owned about 0.41% of Regions Financial worth $98,205,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RF. Darwin Wealth Management LLC acquired a new position in shares of Regions Financial in the 2nd quarter worth approximately $25,000. SouthState Bank Corp grew its position in Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock worth $30,000 after acquiring an additional 538 shares during the last quarter. Spire Wealth Management grew its position in Regions Financial by 91.5% during the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock worth $32,000 after acquiring an additional 557 shares during the last quarter. Princeton Global Asset Management LLC grew its position in Regions Financial by 260.4% during the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock worth $32,000 after acquiring an additional 854 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in Regions Financial during the 4th quarter worth approximately $33,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. DA Davidson increased their price target on Regions Financial from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Stephens assumed coverage on Regions Financial in a research report on Monday. They set an "equal weight" rating and a $31.00 price target on the stock. Truist Financial restated a "hold" rating and set a $30.00 price target on shares of Regions Financial in a research report on Tuesday, April 21st. Royal Bank Of Canada increased their price target on Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Finally, Morgan Stanley decreased their price target on Regions Financial from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.73.

Regions Financial Stock Down 2.3%

Shares of RF opened at $28.60 on Tuesday. The firm has a market capitalization of $24.41 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The business's fifty day moving average price is $27.83 and its two-hundred day moving average price is $27.69. Regions Financial Corporation has a 52 week low of $21.40 and a 52 week high of $31.53.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, June 1st. Regions Financial's dividend payout ratio (DPR) is presently 44.17%.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company's stock.

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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