Mitsubishi UFJ Trust & Banking Corp Buys 75,144 Shares of Regions Financial Corporation $RF

Mitsubishi UFJ Trust & Banking Corp raised its position in Regions Financial Corporation (NYSE:RF) by 14.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 588,591 shares of the bank’s stock after buying an additional 75,144 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Regions Financial worth $15,521,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after acquiring an additional 1,278 shares during the last quarter. Woodline Partners LP lifted its position in Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after purchasing an additional 22,216 shares during the period. GC Wealth Management RIA LLC bought a new position in shares of Regions Financial in the 2nd quarter valued at about $325,000. Archford Capital Strategies LLC bought a new position in shares of Regions Financial in the 2nd quarter valued at about $439,000. Finally, Capital Investment Advisors LLC grew its position in shares of Regions Financial by 5.7% during the 2nd quarter. Capital Investment Advisors LLC now owns 31,148 shares of the bank’s stock worth $733,000 after buying an additional 1,693 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the firm’s 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 sale, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Regions Financial Price Performance

RF opened at $27.87 on Wednesday. The company has a fifty day simple moving average of $27.13 and a 200 day simple moving average of $26.15. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a market cap of $24.44 billion, a P/E ratio of 12.17, a P/E/G 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.

Regions Financial (NYSE:RF) last posted its 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 business 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%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, research analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the bank to buy up to 12.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RF shares. Morgan Stanley set a $31.00 price objective on shares of Regions Financial in a report on Monday, January 19th. TD Cowen reissued a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Piper Sandler lifted their price objective on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Wells Fargo & Company downgraded Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective for the company. in a report on Friday, January 16th. Finally, Barclays raised their target price on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.27.

Regions Financial Company 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.