Mitchell Mcleod Pugh & Williams Inc. Raises Stock Position in Regions Financial Corporation $RF

Mitchell Mcleod Pugh & Williams Inc. raised its stake in Regions Financial Corporation (NYSE:RF) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,196 shares of the bank’s stock after buying an additional 4,497 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Regions Financial were worth $1,510,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Regions Financial by 3.7% during the 1st quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank’s stock worth $960,717,000 after purchasing an additional 1,562,512 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Regions Financial by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank’s stock worth $675,645,000 after purchasing an additional 1,909,162 shares in the last quarter. Invesco Ltd. increased its stake in shares of Regions Financial by 35.7% during the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank’s stock worth $456,122,000 after purchasing an additional 5,521,772 shares in the last quarter. Amundi increased its stake in shares of Regions Financial by 20.4% during the 1st quarter. Amundi now owns 10,010,267 shares of the bank’s stock worth $198,721,000 after purchasing an additional 1,696,347 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Regions Financial by 3.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank’s stock worth $216,866,000 after purchasing an additional 325,382 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 2.4%

RF stock opened at $25.15 on Wednesday. The stock has a market capitalization of $22.44 billion, a P/E ratio of 11.70, a PEG ratio of 1.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial Corporation has a one year low of $17.74 and a one year high of $27.96. The company has a 50 day moving average price of $26.28 and a two-hundred day moving average price of $23.64.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price objective for the company. Citigroup raised their price objective on shares of Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Wall Street Zen raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Stephens reissued an “equal weight” rating and set a $27.00 price objective (down from $30.00) on shares of Regions Financial in a research note on Tuesday. Finally, Evercore ISI raised their price objective on shares of Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.79.

Insiders Place Their Bets

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

Regions Financial Company 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.