Equitable Trust Co. Decreases Stock Position in Regions Financial Corporation $RF

Equitable Trust Co. cut its holdings in Regions Financial Corporation (NYSE:RF) by 3.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,019 shares of the bank’s stock after selling 2,000 shares during the quarter. Equitable Trust Co.’s holdings in Regions Financial were worth $1,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RF. Farther Finance Advisors LLC raised its stake in Regions Financial by 128.6% in the first quarter. Farther Finance Advisors LLC now owns 11,105 shares of the bank’s stock valued at $240,000 after buying an additional 6,248 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Regions Financial by 6.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 243,969 shares of the bank’s stock valued at $5,301,000 after buying an additional 14,720 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Regions Financial by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 76,306 shares of the bank’s stock valued at $1,658,000 after buying an additional 802 shares during the last quarter. Sowell Financial Services LLC raised its stake in Regions Financial by 6.2% in the first quarter. Sowell Financial Services LLC now owns 16,038 shares of the bank’s stock valued at $348,000 after buying an additional 943 shares during the last quarter. Finally, Sagespring Wealth Partners LLC raised its stake in Regions Financial by 6.0% in the first quarter. Sagespring Wealth Partners LLC now owns 21,846 shares of the bank’s stock valued at $475,000 after buying an additional 1,229 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Up 2.4%

Regions Financial stock opened at $25.15 on Wednesday. The firm has a market cap of $22.44 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.17 and a beta of 1.02. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The business’s 50-day moving average price is $26.28 and its 200 day moving average price is $23.64. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. The firm had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%. As a group, sell-side analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Insider Activity

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the sale, the executive vice president directly owned 90,915 shares of the company’s stock, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger W. Jenkins acquired 4,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares of the company’s stock, valued at $162,638.84. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on RF. Cantor Fitzgerald began coverage on Regions Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 price target for the company. Barclays restated an “underweight” rating and issued a $27.00 price objective (up from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Evercore ISI raised their price objective on Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Morgan Stanley set a $32.00 price objective on Regions Financial in a research note on Monday, September 29th. Finally, Keefe, Bruyette & Woods raised their price objective on Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Regions Financial currently has an average rating of “Moderate Buy” and a consensus target price of $27.79.

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.