Entropy Technologies LP lifted its stake in Regions Financial Corporation (NYSE:RF – Free Report) by 427.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 270,353 shares of the bank’s stock after purchasing an additional 219,076 shares during the quarter. Entropy Technologies LP’s holdings in Regions Financial were worth $7,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RF. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Regions Financial by 57.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 54,537 shares of the bank’s stock worth $1,425,000 after acquiring an additional 19,873 shares during the last quarter. Renaissance Technologies LLC increased its position in Regions Financial by 38.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,144,021 shares of the bank’s stock worth $56,002,000 after purchasing an additional 597,600 shares during the last quarter. GC Wealth Management RIA LLC increased its position in Regions Financial by 18.7% in the 1st quarter. GC Wealth Management RIA LLC now owns 19,085 shares of the bank’s stock worth $498,000 after purchasing an additional 3,004 shares during the last quarter. Compound Planning Inc. raised its stake in shares of Regions Financial by 2.1% during the 1st quarter. Compound Planning Inc. now owns 32,156 shares of the bank’s stock worth $840,000 after purchasing an additional 675 shares in the last quarter. Finally, Modern Wealth Management LLC lifted its holdings in shares of Regions Financial by 18.7% during the 1st quarter. Modern Wealth Management LLC now owns 10,187 shares of the bank’s stock valued at $268,000 after buying an additional 1,605 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
RF has been the subject of several recent research reports. Piper Sandler decreased their target price 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. 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 report on Monday. DA Davidson upped their target price on Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday. Stephens initiated coverage on shares of Regions Financial in a report on Monday, June 15th. They set an “equal weight” rating and a $31.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. 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 stock. Based on data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus target price of $32.21.
Insider Buying and Selling at Regions Financial
In other news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.
Regions Financial Stock Performance
RF opened at $30.82 on Friday. The stock’s 50 day simple moving average is $29.36 and its 200-day simple moving average is $28.36. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock has a market cap of $26.31 billion, a PE ratio of 12.58, a P/E/G ratio of 1.18 and a beta of 1.00. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $32.47.
Regions Financial (NYSE:RF – Get Free Report) last released its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. Sell-side analysts forecast that Regions Financial Corporation will post 2.62 EPS for the current 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 is a positive change 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%. Regions Financial’s dividend payout ratio (DPR) is presently 43.27%.
Regions Financial 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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