AustralianSuper Pty Ltd Reduces Stock Holdings in Regions Financial Corporation $RF

AustralianSuper Pty Ltd lessened its holdings in shares of Regions Financial Corporation (NYSE:RF) by 70.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,736 shares of the bank’s stock after selling 1,026,306 shares during the period. AustralianSuper Pty Ltd’s holdings in Regions Financial were worth $11,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RF. Mirae Asset Global Investments Co. Ltd. grew its position in Regions Financial by 3.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 966,396 shares of the bank’s stock worth $25,484,000 after purchasing an additional 30,677 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Regions Financial by 67.4% in the 3rd quarter. Federated Hermes Inc. now owns 19,548 shares of the bank’s stock valued at $515,000 after buying an additional 7,871 shares during the period. Truist Financial Corp boosted its stake in shares of Regions Financial by 11.3% in the third quarter. Truist Financial Corp now owns 230,148 shares of the bank’s stock worth $6,069,000 after buying an additional 23,316 shares during the last quarter. J. Safra Sarasin Holding AG grew its holdings in Regions Financial by 295.3% during the third quarter. J. Safra Sarasin Holding AG now owns 56,025 shares of the bank’s stock worth $1,477,000 after acquiring an additional 41,851 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in Regions Financial by 2.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 176,832 shares of the bank’s stock valued at $4,663,000 after acquiring an additional 3,422 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

Shares of NYSE RF opened at $28.46 on Friday. The firm has a market cap of $24.95 billion, a PE ratio of 12.43, a PEG ratio of 0.99 and a beta of 1.03. The firm has a fifty day moving average of $27.29 and a 200 day moving average of $26.18. 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 one year low of $17.74 and a one year high of $29.25.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. 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 previous year, the business earned $0.56 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research 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 initiated a share buyback program on Wednesday, December 10th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction dated 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 sale, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. The trade was a 67.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

RF has been the topic of several recent research reports. Evercore ISI lowered Regions Financial from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $27.00 to $29.00 in a research report on Tuesday, January 6th. Piper Sandler boosted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. TD Cowen reissued a “buy” rating on shares of Regions Financial in a report on Tuesday, October 21st. Wall Street Zen lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, 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. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.