Trexquant Investment LP Has $5.36 Million Stake in Regions Financial Corporation $RF

Trexquant Investment LP trimmed its holdings in shares of Regions Financial Corporation (NYSE:RF) by 76.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 246,617 shares of the bank’s stock after selling 808,980 shares during the period. Trexquant Investment LP’s holdings in Regions Financial were worth $5,359,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Foster Victor Wealth Advisors LLC increased its position in Regions Financial by 5.4% during the first quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank’s stock worth $6,606,000 after buying an additional 15,652 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Regions Financial by 0.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank’s stock valued at $52,762,000 after acquiring an additional 21,169 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Regions Financial by 13.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank’s stock valued at $3,424,000 after acquiring an additional 18,684 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in Regions Financial by 62.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank’s stock valued at $440,000 after acquiring an additional 7,822 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new stake in Regions Financial during the first quarter valued at about $272,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RF. Truist Financial restated a “hold” rating on shares of Regions Financial in a report on Friday, May 23rd. Jefferies Financial Group began coverage on shares of Regions Financial in a report on Wednesday, May 21st. They set a “hold” rating and a $24.00 price target for the company. Morgan Stanley upped their price target on shares of Regions Financial from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. DA Davidson upped their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, TD Cowen assumed coverage on shares of Regions Financial in a report on Thursday, May 15th. They set a “buy” rating and a $31.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.33.

Regions Financial Stock Up 0.3%

NYSE RF opened at $27.42 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a 50-day simple moving average of $25.23 and a 200 day simple moving average of $22.77. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The stock has a market cap of $24.46 billion, a PE ratio of 12.75, a PEG ratio of 1.58 and a beta of 1.02.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, research analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, September 2nd. Regions Financial’s dividend payout ratio is 46.51%.

Insider Transactions at Regions Financial

In other Regions Financial news, Director Roger W. Jenkins purchased 4,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the purchase, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. This trade represents a 167.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the transaction, the executive vice president owned 90,915 shares of the company’s stock, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.