Regions Financial Corporation $RF Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in Regions Financial Corporation (NYSE:RF) by 1.3% in the third quarter, Holdings Channel.com reports. The firm owned 8,142,046 shares of the bank’s stock after selling 103,133 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Regions Financial were worth $214,706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in Regions Financial during the second quarter worth $246,790,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Regions Financial by 620.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock worth $60,293,000 after acquiring an additional 2,207,585 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new position in shares of Regions Financial during the 2nd quarter worth $24,927,000. Midwest Trust Co acquired a new position in shares of Regions Financial during the 2nd quarter valued at about $14,519,000. Finally, Schroder Investment Management Group grew its holdings in shares of Regions Financial by 56.8% in the second quarter. Schroder Investment Management Group now owns 1,558,174 shares of the bank’s stock valued at $36,648,000 after purchasing an additional 564,281 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Regions Financial stock opened at $27.77 on Tuesday. The company’s 50 day simple moving average is $26.75 and its 200-day simple moving average is $26.01. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $29.25. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.99 and a beta of 1.03.

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

Regions Financial announced that its board has initiated a stock buyback plan on Wednesday, December 10th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the bank to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RF. Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Citigroup raised 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. Wells Fargo & Company lowered shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a research report on Friday. Piper Sandler reiterated a “neutral” rating on shares of Regions Financial in a report on Tuesday. Finally, Cowen reissued a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and an average price target of $29.14.

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.