Regions Financial Corporation $RF Stake Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its position in Regions Financial Corporation (NYSE:RF) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 966,396 shares of the bank’s stock after acquiring an additional 30,677 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Regions Financial were worth $25,484,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in Regions Financial by 1.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank’s stock worth $740,511,000 after acquiring an additional 391,568 shares during the period. Geode Capital Management LLC lifted its position in shares of Regions Financial by 0.5% in the second quarter. Geode Capital Management LLC now owns 23,794,677 shares of the bank’s stock worth $557,370,000 after purchasing an additional 109,549 shares in the last quarter. Norges Bank acquired a new stake in shares of Regions Financial during the second quarter worth approximately $246,790,000. Allspring Global Investments Holdings LLC grew its position in Regions Financial by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after purchasing an additional 233,458 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Regions Financial by 5.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,245,179 shares of the bank’s stock valued at $193,927,000 after buying an additional 393,055 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the sale, the executive vice president directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RF. TD Cowen reissued a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Piper Sandler increased their price objective on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Wall Street Zen cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Truist Financial upped their target price on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $27.00 price target (down from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.27.

Regions Financial Price Performance

NYSE RF opened at $28.46 on Friday. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $29.25. The stock’s 50-day moving average is $27.29 and its two-hundred day moving average is $26.18. The firm has a market cap of $24.95 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 0.99 and a beta of 1.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.

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 analysts’ consensus estimates of $0.61 by ($0.04). The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 earnings per share. On average, analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial declared that its board has authorized a stock repurchase program on Wednesday, December 10th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are 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.