Mitsubishi UFJ Trust & Banking Corp Has $15.52 Million Holdings in Regions Financial Corporation $RF

Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Regions Financial Corporation (NYSE:RF) by 14.6% in the third quarter, Holdings Channel.com reports. The firm owned 588,591 shares of the bank’s stock after acquiring an additional 75,144 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Regions Financial were worth $15,521,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Regions Financial during the second quarter worth about $246,790,000. Arrowstreet Capital Limited Partnership boosted its position in Regions Financial by 620.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock worth $60,293,000 after acquiring an additional 2,207,585 shares during the last quarter. Basswood Capital Management L.L.C. bought a new position in shares of Regions Financial during the 2nd quarter worth approximately $24,927,000. Midwest Trust Co acquired a new stake in shares of Regions Financial in the second quarter valued at approximately $14,519,000. Finally, Schroder Investment Management Group lifted its position in shares of Regions Financial by 56.8% in 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 in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Trading Up 0.5%

Shares of NYSE:RF opened at $27.87 on Wednesday. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $29.25. 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 company has a market capitalization of $24.44 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The company has a 50-day simple moving average of $27.13 and a 200 day simple moving average of $26.15.

Regions Financial (NYSE:RF) last released its quarterly earnings data 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). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company earned $0.56 EPS. Regions Financial’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial declared that its Board of Directors has authorized a stock 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 purchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RF shares. Evercore ISI downgraded shares of Regions Financial from an “in-line” rating to an “underperform” rating and raised their target price for the company from $27.00 to $29.00 in a research report on Tuesday, January 6th. Barclays raised their price objective on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Piper Sandler upped their target price on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Morgan Stanley set a $31.00 price target on Regions Financial in a research report on Monday, January 19th. Finally, Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a research report on Friday, January 16th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.27.

Insiders Place Their Bets

In related news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction on Thursday, January 22nd. The stock was 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 approximately $505,635.82. This represents a 67.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

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.