Y Intercept Hong Kong Ltd Grows Stock Holdings in Regions Financial Corporation $RF

Y Intercept Hong Kong Ltd lifted its holdings in Regions Financial Corporation (NYSE:RF) by 114.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 519,803 shares of the bank’s stock after buying an additional 276,913 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Regions Financial were worth $13,577,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RF. Charles Schwab Investment Management Inc. lifted its holdings in shares of Regions Financial by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after acquiring an additional 215,061 shares during the last quarter. Victory Capital Management Inc. increased its stake in Regions Financial by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after acquiring an additional 9,312,449 shares during the last quarter. Invesco Ltd. raised its position in Regions Financial by 3.1% during the fourth quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock valued at $524,337,000 after purchasing an additional 573,659 shares during the period. Morgan Stanley raised its position in Regions Financial by 1.3% during the fourth quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock valued at $497,459,000 after purchasing an additional 231,924 shares during the period. Finally, Norges Bank bought a new stake in shares of Regions Financial in the 4th quarter valued at approximately $254,564,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RF has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their target price on Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Stephens initiated coverage on Regions Financial in a research report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price target for the company. Morgan Stanley lifted their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday. Truist Financial reiterated a “hold” rating and set a $30.00 price objective on shares of Regions Financial in a research report on Tuesday, April 21st. Finally, Piper Sandler cut their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and a consensus target price of $30.80.

Insiders Place Their Bets

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were 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 Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by insiders.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $30.29 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $28.33 and its two-hundred day moving average is $27.99. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $31.53. The company has a market capitalization of $25.84 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. As a group, analysts expect that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a dividend of $0.265 per share. The ex-dividend date was Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.5%. Regions Financial’s dividend payout ratio (DPR) is presently 44.17%.

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.