Interval Partners LP Raises Stock Holdings in Regions Financial Corporation $RF

Interval Partners LP grew its position in Regions Financial Corporation (NYSE:RF) by 30.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 786,307 shares of the bank’s stock after acquiring an additional 183,694 shares during the quarter. Interval Partners LP’s holdings in Regions Financial were worth $20,735,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barclays upped their target price on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 5th. JPMorgan Chase & Co. boosted their price target on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $31.00 price objective on shares of Regions Financial in a research note on Tuesday, January 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $32.00 price objective on shares of Regions Financial in a research report on Tuesday, March 3rd. Finally, Morgan Stanley set a $31.00 target price on Regions Financial in a research note on Monday, January 19th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus price target of $29.97.

Insider Buying and Selling at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. This represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by company insiders.

Regions Financial Stock Down 1.4%

Shares of NYSE:RF opened at $24.98 on Friday. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $31.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $28.56 and its 200-day simple moving average is $26.88. The company has a market cap of $21.57 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.90 and a beta of 1.02.

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

Regions Financial Announces Dividend

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

Regions Financial announced that its board has approved a share repurchase plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to buy up to 12.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Regions Financial

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.