Sumitomo Mitsui Trust Group Inc. Sells 105,980 Shares of Regions Financial Co. (NYSE:RF)

Sumitomo Mitsui Trust Group Inc. reduced its stake in Regions Financial Co. (NYSE:RF) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,406,922 shares of the bank’s stock after selling 105,980 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Regions Financial were worth $56,611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RF. State Street Corp boosted its holdings in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after purchasing an additional 816,226 shares in the last quarter. Geode Capital Management LLC grew its position in Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after purchasing an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after purchasing an additional 1,014,706 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Regions Financial by 0.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock worth $191,921,000 after buying an additional 61,426 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RF. DA Davidson increased their price target on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Tuesday, October 29th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Citigroup increased their price objective on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Barclays boosted their target price on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Regions Financial presently has an average rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Trading Down 0.8 %

Shares of RF stock opened at $24.45 on Monday. Regions Financial Co. has a 1 year low of $17.61 and a 1 year high of $27.96. The firm has a fifty day moving average price of $24.45 and a 200-day moving average price of $23.76. The company has a market cap of $22.22 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.97 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current year.

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.