iSAM Funds UK Ltd Grows Position in Regions Financial Corporation $RF

iSAM Funds UK Ltd raised its stake in shares of Regions Financial Corporation (NYSE:RF) by 278.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,519 shares of the bank’s stock after acquiring an additional 119,588 shares during the period. Regions Financial comprises approximately 0.9% of iSAM Funds UK Ltd’s investment portfolio, making the stock its 17th largest holding. iSAM Funds UK Ltd’s holdings in Regions Financial were worth $4,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Regions Financial in the second quarter valued at about $246,790,000. Victory Capital Management Inc. lifted its position in shares of Regions Financial by 52.9% during the third quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after purchasing an additional 4,679,285 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Regions Financial by 620.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock worth $60,293,000 after purchasing an additional 2,207,585 shares during the last quarter. American Century Companies Inc. boosted its holdings in Regions Financial by 85.9% during the third quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock worth $121,976,000 after purchasing an additional 2,137,062 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new stake in Regions Financial in the 3rd quarter worth about $54,349,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of RF stock opened at $24.98 on Friday. The stock has a market capitalization of $21.57 billion, a P/E ratio of 10.91, a PEG ratio of 0.90 and a beta of 1.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $28.56 and its 200 day moving average is $26.88. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $31.53.

Regions Financial (NYSE:RF) last released 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). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 46.29%.

Regions Financial declared that its board has authorized a share buyback plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the bank to buy up to 12.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on RF. UBS Group reiterated a “neutral” rating and issued a $30.00 price objective on shares of Regions Financial in a research note on Wednesday, February 4th. Barclays upped their target price on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a report on Friday, January 16th. Truist Financial boosted their price objective on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Finally, Morgan Stanley set a $31.00 price objective on Regions Financial in a research note on Monday, January 19th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Regions Financial has an average rating of “Hold” and an average target price of $29.97.

Insider Buying and Selling at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.