Sumitomo Mitsui Trust Holdings Inc. Sells 378,216 Shares of Regions Financial Co. (NYSE:RF)

Posted by on Jul 19th, 2023

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in Regions Financial Co. (NYSE:RF – Free Report) by 11.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,929,116 shares of the bank’s stock after selling 378,216 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.31% of Regions Financial worth $54,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. First Trust Direct Indexing L.P. grew its position in shares of Regions Financial by 46.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 15,208 shares of the bank’s stock worth $282,000 after buying an additional 4,812 shares in the last quarter. Arlington Partners LLC grew its position in shares of Regions Financial by 15.5% during the 1st quarter. Arlington Partners LLC now owns 5,655 shares of the bank’s stock worth $105,000 after buying an additional 761 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its position in shares of Regions Financial by 3.2% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 461,705 shares of the bank’s stock worth $8,569,000 after buying an additional 14,200 shares in the last quarter. James Investment Research Inc. grew its position in shares of Regions Financial by 1,953.6% during the 1st quarter. James Investment Research Inc. now owns 104,735 shares of the bank’s stock worth $1,944,000 after buying an additional 99,635 shares in the last quarter. Finally, Eudaimonia Partners LLC grew its position in shares of Regions Financial by 191.1% during the 1st quarter. Eudaimonia Partners LLC now owns 130,890 shares of the bank’s stock worth $2,429,000 after buying an additional 85,927 shares in the last quarter. Institutional investors own 73.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RF. Citigroup dropped their price target on Regions Financial from $25.00 to $20.00 in a research report on Friday, April 21st. Truist Financial decreased their price objective on Regions Financial from $20.00 to $19.00 in a research note on Thursday, June 29th. UBS Group upped their price objective on Regions Financial from $21.00 to $22.00 in a research note on Tuesday, April 25th. Morgan Stanley decreased their price objective on Regions Financial from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, April 5th. Finally, Royal Bank of Canada decreased their price objective on Regions Financial from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, March 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.29.

Insider Activity

In other news, Director J Thomas Hill acquired 11,926 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average cost of $16.78 per share, with a total value of $200,118.28. Following the completion of the acquisition, the director now owns 23,107 shares of the company’s stock, valued at $387,735.46. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Regions Financial Trading Up 2.3 %

Regions Financial stock opened at $19.64 on Wednesday. The stock has a 50-day moving average of $17.77 and a two-hundred day moving average of $19.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market cap of $18.43 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.17. Regions Financial Co. has a one year low of $13.94 and a one year high of $24.33.

Regions Financial (NYSE:RF – Get Free Report) last announced its quarterly earnings data on Friday, April 21st. The bank reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. Regions Financial had a net margin of 28.61% and a return on equity of 16.60%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, research analysts anticipate that Regions Financial Co. will post 2.34 EPS for the current fiscal year.

Regions Financial Company Profile

(Free Report)

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

Featured Articles

Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.