Monte Financial Group LLC Sells 26,787 Shares of Regions Financial Corporation $RF

Monte Financial Group LLC decreased its position in Regions Financial Corporation (NYSE:RF) by 11.2% in the third quarter, Holdings Channel reports. The firm owned 213,051 shares of the bank’s stock after selling 26,787 shares during the period. Regions Financial accounts for 2.1% of Monte Financial Group LLC’s investment portfolio, making the stock its 21st largest holding. Monte Financial Group LLC’s holdings in Regions Financial were worth $5,618,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RF. Empowered Funds LLC grew its holdings in Regions Financial by 7.2% during the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after acquiring an additional 1,278 shares in the last quarter. Woodline Partners LP grew its holdings in Regions Financial by 40.7% in the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after purchasing an additional 22,216 shares during the last quarter. Farther Finance Advisors LLC increased its position in Regions Financial by 80.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 20,006 shares of the bank’s stock valued at $471,000 after buying an additional 8,901 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Regions Financial by 12.3% during the second quarter. Ballentine Partners LLC now owns 18,372 shares of the bank’s stock valued at $432,000 after acquiring an additional 2,011 shares in the last quarter. Finally, American National Bank & Trust boosted its stake in Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after purchasing an additional 1,022 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 2.8%

Shares of NYSE:RF opened at $27.49 on Monday. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $29.25. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $24.10 billion, a PE ratio of 12.00, a P/E/G ratio of 0.98 and a beta of 1.03. The firm has a 50 day simple moving average of $26.99 and a 200-day simple moving average of $26.11.

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

Regions Financial announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 12.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays upped their price objective 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. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Truist Financial increased their price objective on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $31.00 price target on shares of Regions Financial in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $32.00 price target on shares of Regions Financial in a report on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $29.27.

Regions Financial Company Profile

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.