Regions Financial Corporation (NYSE:RF) Short Interest Down 17.8% in January

Regions Financial Corporation (NYSE:RF) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 52,970,376 shares, a decrease of 17.8% from the December 31st total of 64,478,093 shares. Approximately 6.1% of the shares of the stock are sold short. Based on an average trading volume of 14,235,456 shares, the days-to-cover ratio is presently 3.7 days. Based on an average trading volume of 14,235,456 shares, the days-to-cover ratio is presently 3.7 days. Approximately 6.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RF. Morgan Stanley set a $31.00 price objective on shares of Regions Financial in a report on Monday, January 19th. 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 report on Friday, January 16th. Piper Sandler boosted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group reiterated a “buy” rating and issued a $32.00 price target on shares of Regions Financial in a report on Tuesday, January 6th. Finally, Evercore ISI cut shares of Regions Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $27.00 to $29.00 in a report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.27.

Regions Financial Stock Performance

Regions Financial stock traded up $0.53 during mid-day trading on Monday, reaching $29.03. 5,446,646 shares of the company’s stock were exchanged, compared to its average volume of 15,484,084. The business’s fifty day simple moving average is $27.36 and its 200 day simple moving average is $26.24. 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 has a one year low of $17.74 and a one year high of $29.25. The firm has a market capitalization of $25.45 billion, a PE ratio of 12.67, a P/E/G ratio of 1.01 and a beta of 1.04.

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

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

Insider Buying and Selling

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 value of $1,036,080.00. Following the sale, the executive vice president owned 17,569 shares in the company, valued at $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Regions Financial

Institutional investors have recently added to or reduced their stakes in the business. CVA Family Office LLC boosted its holdings in Regions Financial by 163.2% in the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after buying an additional 656 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial in the 2nd quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new stake in Regions Financial in the second quarter valued at approximately $30,000. United Community Bank bought a new stake in shares of Regions Financial during the 3rd quarter worth $30,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Regions Financial during the 2nd quarter valued at about $32,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.