Y Intercept Hong Kong Ltd Grows Stock Holdings in Regions Financial Corporation $RF

Key Points

• Y Intercept Hong Kong Ltd more than doubled its position in Regions Financial during the first quarter, boosting its stake by 114% to 519,803 shares worth about $13.6 million.
• Regions Financial reported better-than-expected Q1 earnings of $0.62 per share, though revenue came in slightly below estimates at $1.87 billion.
• The stock traded around $30.29, and the company recently paid a quarterly dividend of $0.265 per share, implying an annualized yield of 3.5%.

Y Intercept Hong Kong Ltd boosted its stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 114.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 519,803 shares of the bank's stock after purchasing an additional 276,913 shares during the period. Y Intercept Hong Kong Ltd owned about 0.06% of Regions Financial worth $13,577,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in Regions Financial during the 2nd quarter valued at $25,000. SouthState Bank Corp boosted its stake in shares of Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock worth $30,000 after buying an additional 538 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock worth $32,000 after buying an additional 557 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of Regions Financial by 260.4% in the fourth 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 period. Finally, Leonteq Securities AG bought a new stake in shares of Regions Financial in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RF shares. Truist Financial reissued a "hold" rating and issued a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. Brean Capital started coverage on Regions Financial in a research note on Thursday, March 12th. They set a "neutral" rating for the company. Piper Sandler reduced their price target on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a research report on Monday, March 30th. JPMorgan Chase & Co. lowered their price objective on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada raised their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Seven research 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 data from MarketBeat, Regions Financial currently has an average rating of "Hold" and an average price target of $30.80.

Regions Financial Trading Down 1.7%

NYSE:RF opened at $30.29 on Friday. Regions Financial Corporation has a one year low of $22.70 and a one year high of $31.53. The business has a fifty day moving average price of $28.33 and a 200-day moving average price of $27.99. The firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the business earned $0.54 earnings per share. Regions Financial's quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a dividend of $0.265 per share. The ex-dividend date was Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.5%. Regions Financial's payout ratio is 44.17%.

Insider Activity at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by insiders.

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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