Regions Financial Corporation $RF Shares Bought by Interval Partners LP

Interval Partners LP grew its stake in Regions Financial Corporation (NYSE:RF) by 30.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 786,307 shares of the bank’s stock after buying an additional 183,694 shares during the quarter. Interval Partners LP owned 0.09% of Regions Financial worth $20,735,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial during the second quarter worth approximately $25,000. United Community Bank purchased a new position in Regions Financial in the third quarter worth approximately $30,000. Salomon & Ludwin LLC acquired a new position in Regions Financial during the 3rd quarter worth approximately $32,000. Elevation Point Wealth Partners LLC acquired a new position in Regions Financial during the 2nd quarter worth approximately $33,000. Finally, Clearstead Trust LLC increased its position in shares of Regions Financial by 574.5% in the 2nd quarter. Clearstead Trust LLC now owns 1,430 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,218 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RF has been the topic of a number of analyst reports. Wells Fargo & Company lowered shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a report on Friday, January 16th. UBS Group reissued a “neutral” rating and issued a $30.00 target price on shares of Regions Financial in a report on Wednesday, February 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $32.00 price target on shares of Regions Financial in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $31.00 price target on shares of Regions Financial in a report on Tuesday, January 20th. Finally, Truist Financial upped their price objective on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and an average target price of $29.97.

Regions Financial Stock Down 1.4%

Shares of NYSE:RF opened at $24.98 on Friday. The firm has a 50 day simple moving average of $28.56 and a 200-day simple moving average of $26.88. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $21.57 billion, a PE ratio of 10.91, a P/E/G ratio of 0.90 and a beta of 1.02.

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

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 annualized dividend and a dividend yield of 4.2%. Regions Financial’s dividend payout ratio (DPR) is presently 46.29%.

Regions Financial declared that its board has initiated a share repurchase program on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to buy up to 12.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of Regions Financial 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 in the company, valued at approximately $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Regions Financial Company 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.