AustralianSuper Pty Ltd Decreases Stake in Regions Financial Corporation $RF

AustralianSuper Pty Ltd decreased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 70.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 434,736 shares of the bank’s stock after selling 1,026,306 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Regions Financial were worth $11,464,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC boosted its position in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after acquiring an additional 656 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Regions Financial in the 2nd quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new position in shares of Regions Financial during the 2nd quarter worth approximately $30,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Regions Financial in the second quarter valued at approximately $32,000. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Regions Financial in the third quarter valued at approximately $32,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RF. Wall Street Zen lowered Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Barclays lifted their price target on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Truist Financial upped their price objective on shares of Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Evercore ISI cut shares of Regions Financial from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $27.00 to $29.00 in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company lowered shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a report on Friday, January 16th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.27.

Regions Financial Stock Up 2.1%

Shares of NYSE:RF opened at $28.46 on Friday. The company has a market capitalization of $24.95 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 0.99 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 business has a 50-day moving average price of $27.29 and a 200 day moving average price of $26.18. 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 earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business earned $0.56 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial declared that its board has approved a stock repurchase program on Wednesday, December 10th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is 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.