Weiss Asset Management LP Invests $7.47 Million in Regions Financial Corporation $RF

Key Points

• Weiss Asset Management LP disclosed a new first-quarter stake in Regions Financial, buying 285,920 shares worth about $7.47 million.
• Regions Financial reported better-than-expected quarterly earnings of $0.68 per share, beating estimates by $0.05, while revenue also slightly topped forecasts at $1.95 billion.
• The bank raised its quarterly dividend to $0.30 per share from $0.27, implying an annualized yield of about 3.9%.

Weiss Asset Management LP bought a new stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 285,920 shares of the bank's stock, valued at approximately $7,468,000.

Several other hedge funds also recently bought and sold shares of the stock. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial in the second quarter valued at $25,000. SouthState Bank Corp increased 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 purchasing an additional 538 shares in the last quarter. Spire Wealth Management increased 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 purchasing an additional 557 shares in the last quarter. Princeton Global Asset Management LLC raised its stake in Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock valued at $32,000 after purchasing an additional 854 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Regions Financial during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Trading Up 0.5%

NYSE RF opened at $30.82 on Friday. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $32.47. The company has a 50-day moving average of $29.36 and a 200-day moving average of $28.36. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $26.31 billion, a P/E 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 quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share 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 business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm posted $0.60 EPS. The company's revenue was up .1% on a year-over-year basis. As a group, equities 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. Shareholders of record on Tuesday, September 1st will be paid 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 payout ratio is 43.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RF shares. DA Davidson boosted their price objective on shares of Regions Financial from $33.00 to $34.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Wells Fargo & Company raised their target price 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. Cantor Fitzgerald lifted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on Regions Financial from $29.00 to $31.50 and gave the company a "neutral" rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $34.00 price target on shares of Regions Financial in a research note on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $32.21.

Insiders Place Their Bets

In other Regions Financial 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 value of $195,760.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Regions Financial Company 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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