16,923 Shares in Regions Financial Corporation $RF Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Regions Financial Corporation (NYSE:RF) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,923 shares of the bank’s stock, valued at approximately $446,000.

A number of other hedge funds have also recently bought and sold shares of the company. Centaurus Financial Inc. lifted its position in shares of Regions Financial by 3.9% during the second quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock valued at $241,000 after purchasing an additional 382 shares in the last quarter. Fairvoy Private Wealth LLC lifted its position in shares of Regions Financial by 1.9% during the 3rd quarter. Fairvoy Private Wealth LLC now owns 23,670 shares of the bank’s stock worth $624,000 after buying an additional 449 shares in the last quarter. Master S Wealth Management Inc. lifted its position in shares of Regions Financial by 1.2% during the 2nd quarter. Master S Wealth Management Inc. now owns 40,303 shares of the bank’s stock worth $948,000 after buying an additional 485 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of 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 buying an additional 485 shares during the last quarter. Finally, BXM Wealth LLC increased its position in shares of Regions Financial by 4.8% during the second quarter. BXM Wealth LLC now owns 10,925 shares of the bank’s stock valued at $257,000 after acquiring an additional 500 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $31.00 price objective on shares of Regions Financial in a research report on Tuesday, January 20th. Evercore ISI downgraded Regions Financial from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $27.00 to $29.00 in a research note on Tuesday, January 6th. Truist Financial lifted their target price on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Stephens reissued an “equal weight” rating and issued a $27.00 price target (down from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial has an average rating of “Hold” and an average price target of $29.31.

Insider Transactions at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated 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 sale, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Regions Financial Trading Up 2.0%

Shares of Regions Financial stock opened at $30.43 on Thursday. The stock has a market capitalization of $26.68 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.06 and a beta of 1.04. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $30.84. 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 stock’s 50-day simple moving average is $27.63 and its 200 day simple moving average is $26.32.

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

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, March 2nd. Regions Financial’s payout ratio is presently 46.29%.

Regions Financial declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 10th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

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.