Bayesian Capital Management LP Makes New $2.28 Million Investment in Regions Financial Co. (NYSE:RF)

Bayesian Capital Management LP acquired a new position in Regions Financial Co. (NYSE:RF) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 108,400 shares of the bank’s stock, valued at approximately $2,281,000.

Several other large investors have also modified their holdings of RF. EntryPoint Capital LLC bought a new position in Regions Financial in the 1st quarter worth approximately $26,000. Laurel Wealth Advisors LLC raised its stake in Regions Financial by 86.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after purchasing an additional 649 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in Regions Financial in the 4th quarter valued at $28,000. Glassman Wealth Services increased its holdings in shares of Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after purchasing an additional 967 shares during the period. Finally, MV Capital Management Inc. increased its holdings in shares of Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after purchasing an additional 618 shares during the period. 79.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP William D. Ritter sold 23,000 shares of Regions Financial 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 sale, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

RF has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Evercore ISI cut their target price on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. Truist Financial lifted their price target on shares of Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Royal Bank of Canada boosted their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Citigroup raised their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus price target of $21.51.

Regions Financial Stock Up 1.1 %

RF stock traded up $0.25 during mid-day trading on Tuesday, hitting $22.68. 3,351,075 shares of the company were exchanged, compared to its average volume of 8,191,959. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $22.88. The firm’s 50 day simple moving average is $19.88 and its 200 day simple moving average is $19.46. The firm has a market cap of $20.75 billion, a P/E ratio of 12.27, a P/E/G ratio of 2.92 and a beta of 1.18.

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

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date 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 (DPR) is currently 52.17%.

Regions Financial Company 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.