Stevens Capital Management LP Purchases New Position in Regions Financial Corporation $RF

Stevens Capital Management LP bought a new position in shares of Regions Financial Corporation (NYSE:RF) during the second quarter, Holdings Channel.com reports. The fund bought 9,400 shares of the bank’s stock, valued at approximately $221,000.

Other large investors have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Regions Financial by 34.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock valued at $1,444,000 after buying an additional 15,820 shares during the last quarter. Benjamin Edwards Inc. increased its position in Regions Financial by 6.6% in the 1st quarter. Benjamin Edwards Inc. now owns 342,263 shares of the bank’s stock valued at $7,437,000 after acquiring an additional 21,068 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Regions Financial by 3.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank’s stock valued at $216,866,000 after acquiring an additional 325,382 shares during the last quarter. Nordea Investment Management AB lifted its position in Regions Financial by 4.9% during the 2nd quarter. Nordea Investment Management AB now owns 419,311 shares of the bank’s stock worth $9,913,000 after acquiring an additional 19,579 shares during the period. Finally, Eisler Capital Management Ltd. purchased a new position in shares of Regions Financial in the 1st quarter valued at approximately $21,875,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Trading Up 3.2%

Shares of RF opened at $24.87 on Friday. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $21.81 billion, a P/E ratio of 10.96, a PEG ratio of 1.24 and a beta of 1.07. The firm’s 50-day moving average is $25.17 and its two-hundred day moving average is $24.54.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. The business had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. On average, research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.265 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.3%. Regions Financial’s dividend payout ratio (DPR) is currently 46.70%.

Analyst Upgrades and Downgrades

RF has been the subject of several recent research reports. Truist Financial decreased their price target on Regions Financial from $28.00 to $26.00 and set a “hold” rating for the company in a report on Monday, October 20th. Cowen restated a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Stephens reaffirmed an “equal weight” rating and issued a $27.00 target price (down previously from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Citigroup increased their price target on shares of Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Regions Financial in a report on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus price target of $28.19.

Regions Financial Profile

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.