XTX Topco Ltd Buys 18,645 Shares of Regions Financial Corporation (NYSE:RF)

Key Points

• XTX Topco Ltd increased its stake in Regions Financial Corporation by 47.0%, acquiring an additional 18,645 shares to hold a total of 58,351 shares valued at $1,268,000.
• Regions Financial reported a $0.60 EPS for the last quarter, surpassing the consensus estimate of $0.56, with revenue increasing by 10.1% year-over-year.
• The company declared an increase in its quarterly dividend to $0.265 per share, representing a 4.3% yield and a payout ratio of 49.30%.

XTX Topco Ltd lifted its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 47.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,351 shares of the bank's stock after acquiring an additional 18,645 shares during the period. XTX Topco Ltd's holdings in Regions Financial were worth $1,268,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Foster Victor Wealth Advisors LLC boosted its stake in Regions Financial by 5.4% during the first quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank's stock valued at $6,606,000 after buying an additional 15,652 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Regions Financial by 0.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank's stock valued at $52,762,000 after buying an additional 21,169 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Regions Financial by 13.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank's stock valued at $3,424,000 after buying an additional 18,684 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in Regions Financial by 62.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock valued at $440,000 after buying an additional 7,822 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new stake in Regions Financial during the first quarter valued at $272,000. 79.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Jefferies Financial Group assumed coverage on Regions Financial in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. TD Cowen assumed coverage on Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 price target on the stock. Finally, DA Davidson raised their price target on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $27.33.

Regions Financial Stock Down 1.8%

Shares of NYSE:RF opened at $24.87 on Friday. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The company has a market cap of $22.36 billion, a PE ratio of 11.57, a P/E/G ratio of 1.46 and a beta of 0.98. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The stock's 50-day moving average is $23.55 and its 200 day moving average is $22.59.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.52 EPS. Regions Financial's revenue was up 10.1% compared to the same quarter last year. Sell-side analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.265 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.3%. This is a boost from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's dividend payout ratio (DPR) is presently 49.30%.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

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