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

Mirae Asset Global Investments Co. Ltd. boosted its position in Regions Financial Corporation (NYSE:RF) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 966,396 shares of the bank’s stock after buying an additional 30,677 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.11% of Regions Financial worth $25,484,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAM Holding AG bought a new stake in shares of Regions Financial during the 3rd quarter valued at about $1,760,000. Allspring Global Investments Holdings LLC boosted its stake in Regions Financial by 2.6% in 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 acquiring an additional 233,458 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Regions Financial by 34.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock valued at $1,444,000 after acquiring an additional 15,820 shares during the period. First Citizens Bank & Trust Co. grew its holdings in shares of Regions Financial by 6.8% during the third quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock valued at $18,204,000 after purchasing an additional 44,252 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Regions Financial during the 3rd quarter worth approximately $1,378,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RF shares. The Goldman Sachs Group restated a “buy” rating and set a $32.00 price objective on shares of Regions Financial in a research report on Tuesday, January 6th. TD Cowen reissued a “buy” rating on shares of Regions Financial in a report on Tuesday, October 21st. Evercore ISI lowered shares of Regions Financial from an “in-line” rating to an “underperform” rating and upped their price target for the stock from $27.00 to $29.00 in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Finally, Wells Fargo & Company lowered shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price for the company. in a research note on Friday, January 16th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.27.

Regions Financial Stock Up 2.1%

RF stock opened at $28.46 on Friday. The firm’s 50-day moving average is $27.29 and its two-hundred day moving average is $26.18. The company has a market capitalization of $24.95 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 0.99 and a beta of 1.03. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $29.25. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last posted its quarterly earnings data 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 net margin of 22.44% and a return on equity of 12.55%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $0.56 EPS. Regions Financial’s revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial declared that its Board of Directors has initiated a share buyback program on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the sale, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.