Regions Financial Corporation $RF Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC boosted its stake in Regions Financial Corporation (NYSE:RF) by 3.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 845,047 shares of the bank’s stock after buying an additional 25,071 shares during the quarter. AE Wealth Management LLC’s holdings in Regions Financial were worth $22,284,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Regions Financial in the second quarter valued at approximately $246,790,000. Arrowstreet Capital Limited Partnership raised its stake in Regions Financial by 620.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock valued at $60,293,000 after purchasing an additional 2,207,585 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new position in Regions Financial in the 2nd quarter valued at $24,927,000. Midwest Trust Co acquired a new stake in Regions Financial during the 2nd quarter worth $14,519,000. Finally, Schroder Investment Management Group grew its holdings in shares of Regions Financial by 56.8% during the second quarter. Schroder Investment Management Group now owns 1,558,174 shares of the bank’s stock worth $36,648,000 after buying an additional 564,281 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Regions Financial Price Performance

RF stock opened at $28.46 on Friday. The business has a fifty day moving average of $27.29 and a two-hundred day moving average of $26.18. 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 stock has a market cap of $24.95 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 0.99 and a beta of 1.03. Regions Financial Corporation has a 52-week low of $17.74 and a 52-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 business 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 business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.56 EPS. As a group, research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RF shares. Evercore ISI downgraded shares of Regions Financial from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Stephens reissued an “equal weight” rating and issued a $27.00 target price (down from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target for the company. in a research report on Friday, January 16th. Morgan Stanley set a $31.00 price objective on Regions Financial in a research report on Monday, January 19th. Finally, Wall Street Zen cut Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Six research 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’s stock. Based on data from MarketBeat, Regions Financial presently has an average rating of “Hold” and a consensus price target of $29.27.

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.