TMB Capital Partners LLC Purchases Shares of 87,605 Regions Financial Corporation $RF

TMB Capital Partners LLC purchased a new position in Regions Financial Corporation (NYSE:RF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 87,605 shares of the bank’s stock, valued at approximately $2,374,000. Regions Financial makes up approximately 0.8% of TMB Capital Partners LLC’s portfolio, making the stock its 29th biggest position.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Regions Financial in the 4th quarter worth approximately $254,564,000. Victory Capital Management Inc. lifted its stake in shares of Regions Financial by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after buying an additional 9,312,449 shares during the period. First Trust Advisors LP lifted its stake in shares of Regions Financial by 118.6% during the fourth quarter. First Trust Advisors LP now owns 7,604,482 shares of the bank’s stock worth $206,081,000 after buying an additional 4,125,776 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after acquiring an additional 2,980,505 shares during the period. Finally, AQR Capital Management LLC raised its stake in Regions Financial by 151.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock worth $103,886,000 after acquiring an additional 2,371,048 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analysts Set New Price Targets

RF has been the topic of several research analyst reports. Brean Capital assumed coverage on Regions Financial in a research note on Thursday, March 12th. They set a “neutral” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, March 3rd. Truist Financial reaffirmed a “hold” rating and set a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. Morgan Stanley cut their price target on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Finally, DA Davidson raised their price target on shares of Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.73.

Insider Activity

In related news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Regions Financial Stock Down 0.1%

Shares of RF opened at $28.63 on Friday. The company has a market capitalization of $24.43 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.12 and a beta of 1.00. Regions Financial Corporation has a 52 week low of $21.99 and a 52 week high of $31.53. The stock’s 50-day moving average price is $27.96 and its 200-day moving average price is $27.76. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the company posted $0.54 earnings per share. Regions Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts predict that Regions Financial Corporation will post 2.6 EPS for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, June 1st. Regions Financial’s payout ratio is currently 44.17%.

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.