Regions Financial Co. (NYSE:RF) Shares Bought by abrdn plc

abrdn plc raised its stake in Regions Financial Co. (NYSE:RF) by 4.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,565,516 shares of the bank’s stock after purchasing an additional 114,279 shares during the period. abrdn plc’s holdings in Regions Financial were worth $60,533,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp raised its holdings in shares of Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the period. National Bank of Canada FI raised its stake in Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after acquiring an additional 1,452,956 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Regions Financial by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after acquiring an additional 1,014,706 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after acquiring an additional 816,226 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Regions Financial in the third quarter valued at approximately $17,589,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RF. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Wells Fargo & Company boosted their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. The Goldman Sachs Group increased their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, January 21st. Finally, DA Davidson raised their price target on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $24.37 on Wednesday. Regions Financial Co. has a 52 week low of $17.42 and a 52 week high of $27.96. 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’s 50-day moving average price is $24.67 and its two-hundred day moving average price is $23.71. The stock has a market cap of $22.15 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 earnings per share. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2.27 EPS for the current fiscal year.

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.