Two Sigma Securities LLC Buys Shares of 46,913 Regions Financial Corporation $RF

Key Points

• Two Sigma Securities opened a new Regions Financial position by purchasing 46,913 shares worth approximately $1.42 million. Institutional investors collectively own 79.39% of the bank’s stock.
• Regions Financial reported quarterly EPS of $0.68, exceeding estimates by $0.05, while revenue reached $1.95 billion. The stock opened at $29.91, down 1.4%.
• The bank raised its quarterly dividend from $0.27 to $0.30 per share, equating to an annualized dividend of $1.20 and a 4.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $32.24.

Two Sigma Securities LLC purchased a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 46,913 shares of the bank's stock, valued at approximately $1,417,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RF. Russell Investments Group Ltd. grew its holdings in Regions Financial by 8.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank's stock worth $63,645,000 after acquiring an additional 165,527 shares during the period. Swiss Life Asset Management Ltd lifted its stake in shares of Regions Financial by 244.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank's stock valued at $61,135,000 after purchasing an additional 1,600,926 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Regions Financial by 3.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank's stock valued at $51,247,000 after purchasing an additional 69,191 shares during the period. Royal Palms Capital LLC bought a new stake in shares of Regions Financial during the 4th quarter valued at about $4,137,000. Finally, Waterloo Capital L.P. boosted its position in shares of Regions Financial by 123.7% during the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank's stock valued at $3,683,000 after purchasing an additional 75,149 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Down 1.4%

Regions Financial stock opened at $29.91 on Tuesday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The firm has a market capitalization of $25.48 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. The firm's fifty day moving average price is $30.87 and its two-hundred day moving average price is $28.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm's revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. This is an increase from Regions Financial's previous quarterly dividend of $0.27. Regions Financial's dividend payout ratio is presently 43.27%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Evercore reiterated an "underperform" rating and issued a $31.00 target price on shares of Regions Financial in a report on Monday, July 6th. Jefferies Financial Group restated a "hold" rating and set a $32.00 price target on shares of Regions Financial in a report on Friday, July 17th. Wells Fargo & Company raised their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an "underweight" rating in a research report on Monday, July 6th. Stephens initiated coverage on shares of Regions Financial in a research report on Monday, June 15th. They set an "equal weight" rating and a $31.00 target price on the stock. Finally, Citigroup increased their target price on shares of Regions Financial from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $32.24.

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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