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

Stevens Capital Management LP grew its holdings in shares of Regions Financial Corporation (NYSE:RF) by 355.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 42,850 shares of the bank’s stock after buying an additional 33,450 shares during the period. Stevens Capital Management LP’s holdings in Regions Financial were worth $1,130,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Centaurus Financial Inc. lifted its stake in shares of Regions Financial by 3.9% in the second quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock worth $241,000 after buying an additional 382 shares in the last quarter. Fairvoy Private Wealth LLC raised its holdings in Regions Financial by 1.9% in the 3rd quarter. Fairvoy Private Wealth LLC now owns 23,670 shares of the bank’s stock valued at $624,000 after acquiring an additional 449 shares during the last quarter. Southeast Asset Advisors LLC lifted its stake in Regions Financial by 0.5% in the 3rd quarter. Southeast Asset Advisors LLC now owns 103,704 shares of the bank’s stock worth $2,735,000 after purchasing an additional 474 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Regions Financial by 11.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,896 shares of the bank’s stock worth $129,000 after purchasing an additional 485 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of Regions Financial by 0.7% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 75,163 shares of the bank’s stock worth $1,982,000 after purchasing an additional 486 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

NYSE:RF opened at $30.06 on Friday. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $31.53. The stock’s fifty day moving average is $28.57 and its two-hundred day moving average is $26.68. The company 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 has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The business 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 firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. Equities analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

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

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 paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s payout ratio is 46.29%.

Insider Activity at Regions Financial

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

Wall Street Analyst Weigh In

RF has been the subject of several recent research reports. Barclays increased their price target on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 5th. UBS Group reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Regions Financial in a research note on Wednesday, February 4th. Wall Street Zen lowered Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Piper Sandler boosted their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Six 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 presently has an average rating of “Hold” and an average price target of $29.84.

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.