Weiss Asset Management LP Invests $7.47 Million in Regions Financial Corporation $RF

Weiss Asset Management LP acquired a new stake in Regions Financial Corporation (NYSE:RF) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 285,920 shares of the bank’s stock, valued at approximately $7,468,000.

Other institutional investors have also modified their holdings of the company. Swiss Life Asset Management Ltd increased its position 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 acquiring an additional 1,600,926 shares in the last quarter. Waterloo Capital L.P. lifted its holdings in shares of Regions Financial by 123.7% during the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock valued at $3,683,000 after acquiring an additional 75,149 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Regions Financial during the 4th quarter valued at $1,939,000. Sanctuary Advisors LLC boosted its position in Regions Financial by 108.0% during the 4th quarter. Sanctuary Advisors LLC now owns 675,296 shares of the bank’s stock worth $18,301,000 after purchasing an additional 350,599 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Regions Financial by 3.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock worth $51,247,000 after purchasing an additional 69,191 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

RF opened at $30.82 on Friday. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The firm has a market cap of $26.31 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.18 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $29.36 and a 200 day simple moving average of $28.36.

Regions Financial (NYSE:RF) last issued 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 firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Equities research analysts expect that Regions Financial Corporation will post 2.62 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend 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 is presently 43.27%.

Insider Activity at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on RF shares. Piper Sandler cut their price objective on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. JPMorgan Chase & Co. upped their target price on Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Robert W. Baird reiterated an “underperform” rating and issued a $28.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Wells Fargo & Company raised their target price on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods boosted their price target on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.21.

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.