Freestone Grove Partners LP Takes Position in Regions Financial Corporation $RF

Freestone Grove Partners LP acquired a new position in Regions Financial Corporation (NYSE:RF) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 404,271 shares of the bank’s stock, valued at approximately $12,209,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RF. Russell Investments Group Ltd. increased its holdings in Regions Financial by 8.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock valued at $63,645,000 after acquiring an additional 165,527 shares during the last quarter. Swiss Life Asset Management Ltd increased its holdings in shares of Regions Financial by 244.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock worth $61,135,000 after purchasing an additional 1,600,926 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Regions Financial by 3.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock worth $51,247,000 after buying an additional 69,191 shares in the last quarter. Royal Palms Capital LLC purchased a new stake in shares of Regions Financial in the fourth quarter worth about $4,137,000. Finally, Waterloo Capital L.P. boosted its stake in Regions Financial by 123.7% during the fourth quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock valued at $3,683,000 after buying an additional 75,149 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Down 1.0%

RF stock opened at $30.40 on Friday. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $32.47. The firm’s 50-day moving average is $30.81 and its 200 day moving average is $28.80. The company has a market capitalization of $25.90 billion, a PE ratio of 12.41, a P/E/G ratio of 1.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. On average, research analysts anticipate that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. Regions Financial’s dividend payout ratio (DPR) is presently 48.98%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RF shares. Cantor Fitzgerald lifted their price objective on Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $34.00 price target on shares of Regions Financial in a research note on Monday, July 20th. Robert W. Baird reiterated an “underperform” rating and set a $28.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Truist Financial upped their target price on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. lifted their price target on Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.24.

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.