abrdn plc Boosts Stock Position in Regions Financial Co. (NYSE:RF)

abrdn plc raised its position in Regions Financial Co. (NYSE:RF) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,565,516 shares of the bank’s stock after purchasing an additional 114,279 shares during the period. abrdn plc owned about 0.28% of Regions Financial worth $60,533,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RF. Quarry LP lifted its stake in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after buying an additional 816 shares during the period. Truvestments Capital LLC purchased a new position in shares of Regions Financial during the 3rd quarter worth $37,000. Legacy Investment Solutions LLC purchased a new position in shares of Regions Financial during the 3rd quarter worth $37,000. Bruce G. Allen Investments LLC grew its position in shares of Regions Financial by 163.1% in the third quarter. Bruce G. Allen Investments LLC now owns 2,392 shares of the bank’s stock valued at $56,000 after purchasing an additional 1,483 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Regions Financial in the third quarter valued at $56,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Price Performance

RF opened at $24.37 on Wednesday. Regions Financial Co. has a twelve month low of $17.42 and a twelve month high of $27.96. The firm has a market cap of $22.15 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.97 and a beta of 1.20. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $24.67 and a 200 day simple moving average of $23.71.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm earned $0.39 earnings per share. The company’s revenue was up .2% on a year-over-year basis. Equities research analysts expect that Regions Financial Co. will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

RF has been the topic of a number of research analyst reports. Wedbush raised their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Truist Financial raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Argus upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday, October 24th. Finally, Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.