Susquehanna Fundamental Investments LLC Acquires New Position in Regions Financial Corporation $RF

Susquehanna Fundamental Investments LLC acquired a new position in Regions Financial Corporation (NYSE:RF) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,375,969 shares of the bank’s stock, valued at approximately $41,554,000.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Regions Financial by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after buying an additional 215,061 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after purchasing an additional 9,312,449 shares during the last quarter. Invesco Ltd. grew its position in shares of Regions Financial by 3.1% in 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 in the last quarter. Morgan Stanley grew its position in shares of Regions Financial by 1.3% in 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 in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after purchasing an additional 5,754,487 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Performance

Shares of RF stock opened at $30.35 on Monday. The company has a market cap of $25.86 billion, a P/E ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00. The firm has a fifty day moving average price of $30.84 and a 200 day moving average price of $28.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $32.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. The company 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. Sell-side analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is 48.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RF. Citigroup boosted their price target on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, July 20th. UBS Group boosted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. DA Davidson increased their target price on shares of Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Truist Financial lifted their price target on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley boosted their price target on shares of Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and an average target price of $32.24.

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.