Stevens Capital Management LP Raises Stake in Regions Financial Corporation $RF

Stevens Capital Management LP increased its holdings in Regions Financial Corporation (NYSE:RF) by 355.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,850 shares of the bank’s stock after buying an additional 33,450 shares during the quarter. Stevens Capital Management LP’s holdings in Regions Financial were worth $1,130,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Regions Financial by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank’s stock worth $740,511,000 after acquiring an additional 391,568 shares during the period. Geode Capital Management LLC lifted its position in Regions Financial by 0.5% during the second quarter. Geode Capital Management LLC now owns 23,794,677 shares of the bank’s stock valued at $557,370,000 after purchasing an additional 109,549 shares during the period. Norges Bank purchased a new stake in Regions Financial in the second quarter valued at $246,790,000. Allspring Global Investments Holdings LLC grew its position in Regions Financial by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after purchasing an additional 233,458 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Regions Financial by 5.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,245,179 shares of the bank’s stock valued at $193,927,000 after buying an additional 393,055 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

Regions Financial stock opened at $30.06 on Friday. The stock has a market capitalization of $26.35 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.05 and a beta of 1.04. The company’s fifty day moving average price is $28.57 and its 200 day moving average price is $26.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $31.53.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 earnings per share. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial announced that its Board of Directors has initiated a share buyback program on Wednesday, December 10th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, March 2nd. Regions Financial’s dividend payout ratio is 46.29%.

Insiders Place Their Bets

In related news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the sale, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. The trade was a 67.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Morgan Stanley set a $31.00 price target on Regions Financial in a report on Monday, January 19th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $31.00 price objective on shares of Regions Financial in a research report on Tuesday, January 20th. Wells Fargo & Company cut shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research note on Friday, January 16th. Finally, Barclays boosted their target price on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.84.

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.