Regions Financial Corporation $RF Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 473.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 337,942 shares of the bank’s stock after purchasing an additional 279,055 shares during the quarter. Fifth Third Bancorp’s holdings in Regions Financial were worth $8,827,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Darwin Wealth Management LLC acquired a new stake in Regions Financial in the 2nd quarter valued at $25,000. SouthState Bank Corp raised its position in Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after acquiring an additional 538 shares during the period. Spire Wealth Management lifted its holdings in Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after purchasing an additional 557 shares in the last quarter. Princeton Global Asset Management LLC lifted its holdings in Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after purchasing an additional 854 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Regions Financial in the fourth quarter valued at about $33,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of RF stock opened at $31.50 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $26.88 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.20 and a beta of 1.00. The firm’s 50 day moving average price is $28.78 and its 200-day moving average price is $28.18. Regions Financial Corporation has a one year low of $22.70 and a one year high of $31.55.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.Regions Financial’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, equities research analysts predict that Regions Financial Corporation will post 2.6 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Stephens assumed coverage on Regions Financial in a research report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price on the stock. UBS Group lifted their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald boosted their price target on Regions Financial from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Truist Financial reaffirmed a “hold” rating and set a $30.00 target price on shares of Regions Financial in a research note on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and a consensus price target of $31.28.

Insider Activity at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

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.