Monte Financial Group LLC Cuts Stake in Regions Financial Co. (NYSE:RF)

Monte Financial Group LLC cut its holdings in Regions Financial Co. (NYSE:RF) by 3.7% in the fourth quarter, Holdings Channel reports. The fund owned 236,523 shares of the bank’s stock after selling 9,092 shares during the quarter. Regions Financial accounts for approximately 2.4% of Monte Financial Group LLC’s portfolio, making the stock its 15th largest position. Monte Financial Group LLC’s holdings in Regions Financial were worth $5,563,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American National Bank & Trust increased its holdings in shares of Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,114 shares during the period. Quarry LP boosted its position in 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 purchasing an additional 816 shares in the last quarter. Truvestments Capital LLC purchased a new position in Regions Financial in the third quarter valued at about $37,000. Legacy Investment Solutions LLC bought a new position in Regions Financial in the third quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of Regions Financial by 163.1% during the third quarter. Bruce G. Allen Investments LLC now owns 2,392 shares of the bank’s stock valued at $56,000 after buying an additional 1,483 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Price Performance

Shares of NYSE RF opened at $24.48 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The firm’s 50 day simple moving average is $24.93 and its 200-day simple moving average is $23.52. Regions Financial Co. has a 12 month low of $17.42 and a 12 month high of $27.96. The stock has a market capitalization of $22.25 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.94 and a beta of 1.21.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1,857,300 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts expect that Regions Financial Co. will post 2.27 EPS for the current year.

Analysts Set New Price Targets

RF has been the subject of several recent analyst reports. Wedbush boosted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Truist Financial upped their target price on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Citigroup raised their price target on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

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.