Monte Financial Group LLC Sells 26,787 Shares of Regions Financial Corporation $RF

Monte Financial Group LLC decreased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 11.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,051 shares of the bank’s stock after selling 26,787 shares during the period. Regions Financial makes up about 2.1% of Monte Financial Group LLC’s portfolio, making the stock its 21st largest position. Monte Financial Group LLC’s holdings in Regions Financial were worth $5,618,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RF. Empowered Funds LLC grew its holdings in shares of 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 in the last quarter. Woodline Partners LP raised its stake in Regions Financial by 40.7% in the first 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 in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Regions Financial by 80.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 20,006 shares of the bank’s stock worth $471,000 after acquiring an additional 8,901 shares during the last quarter. Ballentine Partners LLC lifted its stake in Regions Financial by 12.3% during the second quarter. Ballentine Partners LLC now owns 18,372 shares of the bank’s stock worth $432,000 after purchasing an additional 2,011 shares during the last quarter. Finally, American National Bank & Trust boosted its stake in Regions Financial by 2,433.3% in the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after buying an additional 1,022 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on RF shares. Stephens reissued an “equal weight” rating and set a $27.00 price objective (down previously from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Truist Financial increased their price target on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Piper Sandler lifted their price target on Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Evercore ISI lowered Regions Financial from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $27.00 to $29.00 in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company downgraded shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a research report on Friday, January 16th. 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.27.

Regions Financial Price Performance

NYSE RF opened at $27.49 on Monday. 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 Corporation has a 52 week low of $17.74 and a 52 week high of $29.25. The firm has a market capitalization of $24.10 billion, a P/E ratio of 12.00, a PEG ratio of 0.98 and a beta of 1.03. The company has a 50-day moving average price of $26.99 and a 200-day moving average price of $26.11.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $0.56 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial declared that its board has authorized a share buyback plan on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to buy up to 12.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership 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.