Lecap Asset Management Ltd. Makes New $297,000 Investment in Regions Financial Co. (NYSE:RF)

Lecap Asset Management Ltd. acquired a new stake in shares of Regions Financial Co. (NYSE:RF) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,709 shares of the bank’s stock, valued at approximately $297,000.

Several other large investors have also bought and sold shares of the company. American National Bank & Trust raised its position in Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after buying an additional 1,114 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Regions Financial in the first quarter worth $26,000. Quarry LP increased its position in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after acquiring an additional 816 shares during the last quarter. MV Capital Management Inc. lifted its holdings in Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after acquiring an additional 618 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after purchasing an additional 1,256 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of NYSE RF opened at $23.75 on Friday. The company has a market cap of $21.75 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.80 and a beta of 1.17. The firm’s fifty day moving average is $22.87 and its two-hundred day moving average is $20.98. 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 52-week low of $13.72 and a 52-week high of $24.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $0.49 earnings per share. Regions Financial’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, analysts anticipate that Regions Financial Co. will post 2.02 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio is presently 54.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RF shares. Citigroup upped their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Thursday. Wells Fargo & Company upped their price objective on Regions Financial from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Truist Financial upped their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.35.

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.