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

Envestnet Portfolio Solutions Inc. increased its stake in shares of Regions Financial Corporation (NYSE:RF) by 6.2% in the third quarter, HoldingsChannel.com reports. The firm owned 654,153 shares of the bank’s stock after buying an additional 38,002 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Regions Financial were worth $17,250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new position in shares of Regions Financial during the second quarter worth $25,000. CVA Family Office LLC grew its position in Regions Financial by 163.2% in the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after acquiring an additional 656 shares in the last quarter. American National Bank & Trust increased 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 worth $25,000 after purchasing an additional 1,022 shares during the period. Salomon & Ludwin LLC acquired a new stake in shares of Regions Financial during the third quarter worth about $32,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Regions Financial in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE:RF 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 firm has a market cap of $24.10 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.03. The firm’s fifty day moving average price is $26.99 and its 200 day moving average price is $26.09. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $29.25.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $0.56 EPS. On average, sell-side analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.00 target price on shares of Regions Financial in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Morgan Stanley set a $31.00 price target on shares of Regions Financial in a research note on Monday. Wells Fargo & Company downgraded shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research report on Friday, January 16th. Finally, Piper Sandler lifted their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.