Waterloo Capital L.P. Acquires 75,149 Shares of Regions Financial Corporation $RF

Key Points

• Waterloo Capital L.P. increased its stake in Regions Financial by 123.7% in the fourth quarter, buying 75,149 additional shares and bringing its total to 135,909 shares worth about $3.68 million.
• Other institutional investors also increased exposure to RF, and the stock remains heavily institutionally owned at 79.39%.
• Regions Financial reported quarterly EPS of $0.62, slightly ahead of estimates, while the company also announced a quarterly dividend of $0.265 per share for a 3.8% annualized yield.

Waterloo Capital L.P. raised its position in Regions Financial Corporation (NYSE:RF - Free Report) by 123.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,909 shares of the bank's stock after purchasing an additional 75,149 shares during the period. Waterloo Capital L.P.'s holdings in Regions Financial were worth $3,683,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RF. Norges Bank bought a new position in Regions Financial in the 4th quarter valued at $254,564,000. Victory Capital Management Inc. boosted its holdings in Regions Financial by 52.9% in the 3rd quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank's stock valued at $357,417,000 after purchasing an additional 4,679,285 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank's stock valued at $106,061,000 after purchasing an additional 2,980,505 shares during the period. AQR Capital Management LLC boosted its holdings in Regions Financial by 151.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank's stock valued at $103,886,000 after purchasing an additional 2,371,048 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Regions Financial by 85.9% in the 3rd quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank's stock valued at $121,976,000 after purchasing an additional 2,137,062 shares during the period. 79.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RF has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada raised their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Truist Financial reissued a "hold" rating and issued a $30.00 price target on shares of Regions Financial in a report on Tuesday, April 21st. Piper Sandler cut their price target on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, March 30th. Finally, Brean Capital initiated coverage on shares of Regions Financial in a report on Thursday, March 12th. They issued a "neutral" rating for the company. 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 company. According to MarketBeat, Regions Financial currently has an average rating of "Hold" and a consensus target price of $30.47.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of Regions Financial 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company's stock.

Regions Financial Stock Performance

NYSE RF opened at $28.00 on Friday. Regions Financial Corporation has a 52-week low of $20.79 and a 52-week high of $31.53. 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 company has a market capitalization of $23.89 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.09 and a beta of 1.02. The company has a fifty day moving average of $27.23 and a 200-day moving average of $27.39.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the firm posted $0.54 EPS. The firm's revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts predict that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial's payout ratio is currently 44.17%.

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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