Massachusetts Financial Services Co. MA Sells 103,133 Shares of Regions Financial Corporation $RF

Massachusetts Financial Services Co. MA reduced its position in shares of Regions Financial Corporation (NYSE:RF) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,142,046 shares of the bank’s stock after selling 103,133 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.91% of Regions Financial worth $214,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. American National Bank & Trust grew its position in shares of Regions Financial by 2,433.3% during the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after buying an additional 1,022 shares in the last quarter. CVA Family Office LLC raised its holdings in shares of Regions Financial by 163.2% in the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after acquiring an additional 656 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the second quarter worth about $25,000. FNY Investment Advisers LLC bought a new position in Regions Financial during the 2nd quarter worth about $30,000. Finally, Catalyst Capital Advisors LLC bought a new position in Regions Financial during the 2nd quarter worth about $32,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Performance

RF opened at $27.77 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $29.25. The company has a market cap of $24.35 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.99 and a beta of 1.03. The firm’s 50-day moving average price is $26.75 and its 200-day moving average price is $26.01.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. As a group, equities 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 share buyback plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Stephens reissued an “equal weight” rating and issued a $27.00 price objective (down previously 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 target price for the company. in a report on Friday. Evercore ISI cut Regions Financial from an “in-line” rating to an “underperform” rating and increased their target price for the company from $27.00 to $29.00 in a research report on Tuesday, January 6th. Finally, Citigroup lifted their price target on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Eight analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and an average price target of $29.14.

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.