Allstate Corp Makes New $824,000 Investment in Regions Financial Corporation $RF

Allstate Corp bought a new stake in shares of Regions Financial Corporation (NYSE:RF) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 31,240 shares of the bank’s stock, valued at approximately $824,000.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stephens reissued an “equal weight” rating and set a $27.00 price objective (down from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Wells Fargo & Company cut 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, January 16th. The Goldman Sachs Group reissued a “buy” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, January 6th. Truist Financial increased their price target on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.27.

Regions Financial Trading Up 3.7%

NYSE RF opened at $28.65 on Thursday. The stock has a market cap of $25.12 billion, a PE ratio of 12.51, a PEG ratio of 0.98 and a beta of 1.03. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $29.25. The company’s 50-day moving average price is $26.87 and its 200-day moving average price is $26.05. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last announced its quarterly earnings data 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). The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 EPS. Equities research analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 10th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the bank to buy up to 12.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.