Independent Advisor Alliance Decreases Position in Regions Financial Corporation $RF

Independent Advisor Alliance trimmed its holdings in shares of Regions Financial Corporation (NYSE:RF) by 51.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,140 shares of the bank’s stock after selling 25,876 shares during the quarter. Independent Advisor Alliance’s holdings in Regions Financial were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. GAM Holding AG acquired a new stake in Regions Financial during the third quarter worth about $1,760,000. Allspring Global Investments Holdings LLC boosted its holdings in Regions Financial by 2.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after purchasing an additional 233,458 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Regions Financial by 34.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock valued at $1,444,000 after buying an additional 15,820 shares during the period. First Citizens Bank & Trust Co. increased its holdings in shares of Regions Financial by 6.8% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock worth $18,204,000 after buying an additional 44,252 shares during the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in shares of Regions Financial during the 3rd quarter valued at approximately $1,378,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Trading Up 2.0%

NYSE RF opened at $30.43 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $26.68 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.06 and a beta of 1.04. The firm has a 50 day simple moving average of $27.63 and a 200-day simple moving average of $26.32. Regions Financial Corporation has a one year low of $17.74 and a one year high of $30.84.

Regions Financial (NYSE:RF) last released its 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 business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company earned $0.56 earnings per share. Regions Financial’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the bank to buy up to 12.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RF. The Goldman Sachs Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Regions Financial in a research report on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of Regions Financial in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Wall Street Zen cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, UBS Group reaffirmed a “neutral” rating and set a $30.00 target price on shares of Regions Financial in a research note on Wednesday. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.31.

Insider Activity

In related 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 value of $1,036,080.00. Following the completion of the transaction, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Regions Financial 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.