Regions Financial Corporation $RF Stock Holdings Raised by AlphaQuest LLC

AlphaQuest LLC grew its stake in Regions Financial Corporation (NYSE:RF) by 110.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 182,693 shares of the bank’s stock after purchasing an additional 95,826 shares during the quarter. Regions Financial makes up approximately 0.3% of AlphaQuest LLC’s holdings, making the stock its 14th biggest holding. AlphaQuest LLC’s holdings in Regions Financial were worth $4,818,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on RF. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $31.00 target price on shares of Regions Financial in a report on Tuesday, January 20th. Piper Sandler increased their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Morgan Stanley set a $31.00 target price on Regions Financial in a report on Monday, January 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.27.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction on Thursday, January 22nd. The stock was 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 directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Regions Financial Stock Performance

RF stock opened at $28.46 on Friday. The company has a 50-day simple moving average of $27.29 and a 200 day simple moving average of $26.18. The company has a market capitalization of $24.95 billion, a P/E ratio of 12.43, a PEG ratio of 0.99 and a beta of 1.03. 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 fifty-two week low of $17.74 and a fifty-two week high of $29.25.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 16th. The bank reported $0.57 EPS 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 return on equity of 12.55% and a net margin of 22.44%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 earnings per share. Sell-side analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

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

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.