Brevan Howard Capital Management LP Lowers Holdings in Regions Financial Corporation $RF

Brevan Howard Capital Management LP lowered its position in Regions Financial Corporation (NYSE:RF) by 31.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,930 shares of the bank’s stock after selling 89,008 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Regions Financial were worth $5,167,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RF. Empowered Funds LLC increased its stake in shares of Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after buying an additional 1,278 shares during the period. Woodline Partners LP lifted its stake in Regions Financial by 40.7% in the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after acquiring an additional 22,216 shares during the period. Vise Technologies Inc. purchased a new stake in Regions Financial in the second quarter worth about $419,000. Police & Firemen s Retirement System of New Jersey grew its holdings in Regions Financial by 3.4% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 138,850 shares of the bank’s stock worth $3,266,000 after acquiring an additional 4,565 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Regions Financial by 1.5% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 175,045 shares of the bank’s stock worth $4,118,000 after acquiring an additional 2,550 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Down 1.4%

NYSE:RF opened at $24.98 on Monday. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $31.53. The stock has a market capitalization of $21.57 billion, a P/E ratio of 10.91, a P/E/G ratio of 0.88 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The company’s 50-day simple moving average is $28.56 and its 200-day simple moving average is $26.88.

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

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, March 2nd. Regions Financial’s dividend payout ratio is currently 46.29%.

Regions Financial announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RF shares. Cantor Fitzgerald restated an “overweight” rating and issued a $32.00 price target on shares of Regions Financial in a report on Tuesday, March 3rd. Wall Street Zen downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $31.00 price objective on shares of Regions Financial in a research note on Tuesday, January 20th. Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price for the company. in a report on Friday, January 16th. Finally, Piper Sandler increased their target price on Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating, nine 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 a consensus 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 transaction, the executive vice president directly owned 17,569 shares in the company, valued at $505,635.82. The trade was a 67.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% 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.