Man Group plc Takes $13.82 Million Position in Regions Financial Corporation $RF

Man Group plc acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 457,635 shares of the bank’s stock, valued at approximately $13,821,000.

A number of other hedge funds have also recently bought and sold shares of RF. Root Financial Partners LLC grew its stake in Regions Financial by 3.9% in the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock worth $248,000 after acquiring an additional 346 shares during the period. WPG Advisers LLC lifted its stake in shares of Regions Financial by 83.5% during the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after purchasing an additional 370 shares during the period. Master S Wealth Management Inc. lifted its stake in shares of Regions Financial by 1.0% during the 1st quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock worth $1,009,000 after purchasing an additional 372 shares during the period. Van ECK Associates Corp lifted its stake in shares of Regions Financial by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after purchasing an additional 373 shares during the period. Finally, Legacy Wealth Managment LLC ID boosted its holdings in shares of Regions Financial by 17.3% during the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock worth $68,000 after purchasing an additional 381 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RF shares. Robert W. Baird reaffirmed an “underperform” rating and issued a $28.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Stephens started coverage on Regions Financial in a research report on Monday, June 15th. They set an “equal weight” rating and a $31.00 target price on the stock. Truist Financial raised their price target on Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Citigroup lifted their price target on Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Regions Financial in a research note on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.24.

Regions Financial Stock Down 1.0%

Shares of RF opened at $30.40 on Friday. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company’s fifty day moving average is $30.81 and its two-hundred day moving average is $28.80. The firm has a market cap of $25.90 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26.

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

Regions Financial Increases Dividend

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

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.