Regions Financial Corporation $RF Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in Regions Financial Corporation (NYSE:RF) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 5,724,014 shares of the bank’s stock after selling 165,453 shares during the period. Bank of New York Mellon Corp’s holdings in Regions Financial were worth $150,942,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Centaurus Financial Inc. boosted its stake in Regions Financial by 3.9% during the 2nd quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock valued at $241,000 after acquiring an additional 382 shares during the last quarter. Hardy Reed LLC increased its position in shares of Regions Financial by 1.6% in the 2nd quarter. Hardy Reed LLC now owns 25,747 shares of the bank’s stock worth $606,000 after purchasing an additional 404 shares during the last quarter. Fairvoy Private Wealth LLC raised its stake in shares of Regions Financial by 1.9% in the 3rd quarter. Fairvoy Private Wealth LLC now owns 23,670 shares of the bank’s stock valued at $624,000 after purchasing an additional 449 shares in the last quarter. Master S Wealth Management Inc. lifted its position in shares of Regions Financial by 1.2% during the second quarter. Master S Wealth Management Inc. now owns 40,303 shares of the bank’s stock worth $948,000 after purchasing an additional 485 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its stake in Regions Financial by 11.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,896 shares of the bank’s stock worth $129,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on RF shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $31.00 price objective on shares of Regions Financial in a research note on Tuesday, January 20th. Wells Fargo & Company downgraded Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target for the company. in a report on Friday, January 16th. Wall Street Zen cut Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Stephens reaffirmed an “equal weight” rating and issued a $27.00 price objective (down previously from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Finally, TD Cowen reiterated a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and a consensus price target of $29.27.

Regions Financial Trading Up 0.1%

Shares of NYSE:RF opened at $28.50 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $27.36 and its 200 day moving average price is $26.22. The company has a market cap of $24.99 billion, a PE ratio of 12.44, a P/E/G ratio of 1.01 and a beta of 1.03. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $29.25.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The firm 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%. Regions Financial’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS. Sell-side analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial announced that its board has authorized a stock repurchase program on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the bank to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the sale, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. The trade was a 67.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

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.