Stonegate Investment Group LLC Sells 3,966 Shares of Regions Financial Co. (NYSE:RF)

Stonegate Investment Group LLC lowered its holdings in shares of Regions Financial Co. (NYSE:RF) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,781 shares of the bank’s stock after selling 3,966 shares during the quarter. Stonegate Investment Group LLC’s holdings in Regions Financial were worth $3,993,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after buying an additional 816,226 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Regions Financial by 1.4% during the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after buying an additional 315,605 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after acquiring an additional 1,014,706 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Regions Financial by 0.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock worth $191,921,000 after acquiring an additional 61,426 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of RF opened at $24.76 on Tuesday. The firm has a market capitalization of $22.50 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1-year low of $17.42 and a 1-year high of $27.96. The company’s fifty day moving average price is $24.93 and its 200-day moving average price is $23.57.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1,857,300 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. On average, equities research analysts predict that Regions Financial Co. will post 2.27 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RF. Wells Fargo & Company upped their price target on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Evercore ISI boosted their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Truist Financial boosted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, January 21st. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Profile

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.