Commonwealth Equity Services LLC Sells 33,722 Shares of Regions Financial Corporation $RF

Commonwealth Equity Services LLC decreased its position in Regions Financial Corporation (NYSE:RF) by 13.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 220,045 shares of the bank’s stock after selling 33,722 shares during the period. Commonwealth Equity Services LLC’s holdings in Regions Financial were worth $5,803,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAM Holding AG purchased a new position in shares of Regions Financial during the 3rd quarter worth approximately $1,760,000. Allspring Global Investments Holdings LLC boosted its position in shares of Regions Financial by 2.6% during the third 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 in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Regions Financial by 34.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock worth $1,444,000 after purchasing an additional 15,820 shares during the period. Nordea Investment Management AB raised its holdings in Regions Financial by 4.9% in the second quarter. Nordea Investment Management AB now owns 419,311 shares of the bank’s stock worth $9,913,000 after purchasing an additional 19,579 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its holdings in Regions Financial by 3.7% in the second quarter. Foster Victor Wealth Advisors LLC now owns 315,402 shares of the bank’s stock worth $7,768,000 after purchasing an additional 11,391 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Up 1.1%

Shares of NYSE:RF opened at $28.15 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market cap of $24.68 billion, a P/E ratio of 12.40, a PEG ratio of 0.99 and a beta of 1.03. The stock’s fifty day moving average price is $26.56 and its 200-day moving average price is $25.92. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $29.25.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 17th. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial announced that its board has approved a stock buyback plan on Wednesday, December 10th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the bank to buy up to 12.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on RF. The Goldman Sachs Group restated a “buy” rating and set a $32.00 target price on shares of Regions Financial in a report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Barclays upped their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Stephens reiterated an “equal weight” rating and set a $27.00 target price (down from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Finally, Cowen reissued a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.93.

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.