Regions Financial Corporation $RF Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its holdings in Regions Financial Corporation (NYSE:RF) by 32.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 103,393 shares of the bank’s stock after selling 49,814 shares during the period. QRG Capital Management Inc.’s holdings in Regions Financial were worth $2,726,000 at the end of the most recent reporting period.

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

Regions Financial Price Performance

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

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share 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 company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 stock buyback plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

RF has been the topic of several analyst reports. Cowen reaffirmed a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. Truist Financial lifted their price objective on shares of Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. Stephens reiterated an “equal weight” rating and set a $27.00 price target (down previously from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Finally, Citigroup upped their price objective on shares of Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus target price of $29.14.

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.