Morningstar Investment Management LLC Acquires 1,812 Shares of Regions Financial Corporation $RF

Morningstar Investment Management LLC boosted its position in shares of Regions Financial Corporation (NYSE:RF) by 17.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,190 shares of the bank’s stock after buying an additional 1,812 shares during the period. Morningstar Investment Management LLC’s holdings in Regions Financial were worth $287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RF. Invesco Ltd. boosted its stake in Regions Financial by 35.7% during the first quarter. Invesco Ltd. now owns 20,990,446 shares of the bank’s stock valued at $456,122,000 after buying an additional 5,521,772 shares during the last quarter. Nuveen LLC purchased a new stake in Regions Financial during the first quarter valued at approximately $53,018,000. Charles Schwab Investment Management Inc. raised its position in Regions Financial by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank’s stock valued at $675,645,000 after purchasing an additional 1,909,162 shares during the period. Amundi raised its position in Regions Financial by 20.4% during the first quarter. Amundi now owns 10,010,267 shares of the bank’s stock valued at $198,721,000 after purchasing an additional 1,696,347 shares during the period. Finally, Wellington Management Group LLP raised its position in Regions Financial by 3.7% during the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank’s stock valued at $960,717,000 after purchasing an additional 1,562,512 shares during the period. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Up 2.4%

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

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RF shares. DA Davidson upped their price objective on Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Regions Financial in a research report on Wednesday, October 8th. Cantor Fitzgerald started coverage on Regions Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price objective on the stock. Citigroup upped their price objective on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, Morgan Stanley set a $32.00 price objective on Regions Financial in a research report on Monday, September 29th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.79.

Insiders Place Their Bets

In other news, Director Roger W. Jenkins bought 4,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, with a total value of $101,920.00. Following the transaction, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. This trade represents a 167.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction on Wednesday, August 6th. The shares were 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 disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

About Regions Financial

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.