Merit Financial Group LLC Acquires Shares of 11,186 Regions Financial Co. (NYSE:RF)

Merit Financial Group LLC acquired a new stake in shares of Regions Financial Co. (NYSE:RF) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,186 shares of the bank’s stock, valued at approximately $263,000.

Several other hedge funds have also recently modified their holdings of RF. State Street Corp increased its position 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 purchasing an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 buying an additional 816,226 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Regions Financial by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after buying an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of 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 buying an additional 1,014,706 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Regions Financial by 0.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock valued at $191,921,000 after acquiring an additional 61,426 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RF. The Goldman Sachs Group boosted their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler boosted their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup raised their price target on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wedbush boosted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $28.00 in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Trading Up 0.9 %

RF opened at $24.48 on Friday. Regions Financial Co. has a 52 week low of $17.42 and a 52 week high of $27.96. The company has a market capitalization of $22.25 billion, a P/E ratio of 12.62, a PEG ratio of 1.94 and a beta of 1.21. The stock’s fifty day moving average is $24.93 and its two-hundred day moving average is $23.55. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.

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 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 firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1,857,300 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. Analysts forecast that Regions Financial Co. will post 2.27 earnings per share for the current 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.