Bayesian Capital Management LP Purchases New Position in Regions Financial Co. (NYSE:RF)

Bayesian Capital Management LP bought a new position in shares of Regions Financial Co. (NYSE:RF) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 108,400 shares of the bank’s stock, valued at approximately $2,281,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Bessemer Group Inc. increased its position in Regions Financial by 281.7% during the first quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after purchasing an additional 58,739 shares during the last quarter. abrdn plc raised its stake in Regions Financial by 17.0% during the fourth quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock worth $45,546,000 after purchasing an additional 341,878 shares during the period. Mizuho Markets Americas LLC boosted its holdings in Regions Financial by 35.6% in the 4th quarter. Mizuho Markets Americas LLC now owns 153,136 shares of the bank’s stock valued at $2,968,000 after purchasing an additional 40,200 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Regions Financial by 1,676.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock valued at $1,816,000 after buying an additional 88,437 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

Regions Financial Stock Up 1.1 %

NYSE:RF traded up $0.25 during midday trading on Tuesday, reaching $22.68. The company had a trading volume of 3,351,075 shares, compared to its average volume of 8,191,959. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $22.88. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 2.92 and a beta of 1.18. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $19.88 and its 200-day simple moving average is $19.46.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business posted $0.59 EPS. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is 52.17%.

Analysts Set New Price Targets

RF has been the topic of several analyst reports. Evercore ISI reduced their price target on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Wells Fargo & Company lifted their target price on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Truist Financial upped their price target on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods cut their price objective on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada upped their target price on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.51.

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.