Envestnet Portfolio Solutions Inc. Grows Holdings in Regions Financial Corporation $RF

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Regions Financial Corporation (NYSE:RF) by 6.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 654,153 shares of the bank’s stock after purchasing an additional 38,002 shares during the quarter. Envestnet Portfolio Solutions Inc. owned 0.07% of Regions Financial worth $17,250,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its stake in Regions Financial by 111.2% in the third quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock worth $7,662,000 after buying an additional 152,987 shares in the last quarter. Facet Wealth Inc. acquired a new stake in shares of Regions Financial in the third quarter worth $246,000. iA Global Asset Management Inc. purchased a new position in shares of Regions Financial during the third quarter worth $1,378,000. BIP Wealth LLC raised its holdings in shares of Regions Financial by 5.1% during the third quarter. BIP Wealth LLC now owns 15,817 shares of the bank’s stock worth $417,000 after purchasing an additional 765 shares during the last quarter. Finally, CapWealth Advisors LLC lifted its position in Regions Financial by 34.1% during the third quarter. CapWealth Advisors LLC now owns 21,136 shares of the bank’s stock valued at $557,000 after purchasing an additional 5,380 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 2.8%

Regions Financial stock opened at $27.49 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $24.10 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.03. The business has a 50 day simple moving average of $26.99 and a 200-day simple moving average of $26.09. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $29.25.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. Regions Financial’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS. On average, analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial declared that its board has approved a share buyback plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RF shares. Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective for the company. in a research note on Friday, January 16th. Piper Sandler lifted their price target on Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday. Barclays upped their price objective on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th. TD Cowen reaffirmed a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $31.00 target price on shares of Regions Financial in a research note on Tuesday. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.27.

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.