Truist Financial Corp Has $6.07 Million Stock Position in Regions Financial Corporation $RF

Truist Financial Corp lifted its stake in shares of Regions Financial Corporation (NYSE:RF) by 11.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 230,148 shares of the bank’s stock after purchasing an additional 23,316 shares during the period. Truist Financial Corp’s holdings in Regions Financial were worth $6,069,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RF. Norges Bank acquired a new stake in Regions Financial in the second quarter valued at $246,790,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Regions Financial by 620.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock valued at $60,293,000 after purchasing an additional 2,207,585 shares during the period. Basswood Capital Management L.L.C. bought a new stake in shares of Regions Financial in the 2nd quarter valued at about $24,927,000. Midwest Trust Co acquired a new stake in Regions Financial in the 2nd quarter valued at about $14,519,000. Finally, Schroder Investment Management Group grew its holdings in Regions Financial by 56.8% during the second quarter. Schroder Investment Management Group now owns 1,558,174 shares of the bank’s stock worth $36,648,000 after purchasing an additional 564,281 shares during the period. 79.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RF shares. Morgan Stanley set a $31.00 price objective on Regions Financial in a research report on Monday, January 19th. Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Barclays lifted their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Finally, Stephens reaffirmed an “equal weight” rating and set a $27.00 target price (down previously from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.27.

Insider Activity

In related news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the sale, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. This represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Regions Financial Trading Up 2.2%

Shares of Regions Financial stock opened at $29.12 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50-day moving average of $27.45 and a 200-day moving average of $26.27. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $29.25. The stock has a market cap of $25.54 billion, a PE ratio of 12.72, a PEG ratio of 1.01 and a beta of 1.04.

Regions Financial (NYSE:RF) last issued its quarterly earnings data 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). The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.Regions Financial’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 EPS. As a group, sell-side analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial announced that its board has authorized a share repurchase plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the bank to repurchase up to 12.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

About Regions Financial

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.