Entropy Technologies LP Acquires New Stake in Regions Financial Co. (NYSE:RF)

Entropy Technologies LP purchased a new position in Regions Financial Co. (NYSE:RF) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 86,048 shares of the bank’s stock, valued at approximately $2,024,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of 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 buying an additional 7,791,399 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares during the period. Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 315,605 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of 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 purchasing an additional 1,014,706 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of 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 in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 0.8 %

NYSE:RF opened at $24.45 on Monday. Regions Financial Co. has a 52 week low of $17.61 and a 52 week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average is $24.45 and its two-hundred day moving average is $23.76. The stock has a market capitalization of $22.22 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

RF has been the topic of several analyst reports. 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. Wedbush increased their price target on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Thursday, October 24th. The Goldman Sachs Group raised their target price on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, DA Davidson boosted their price target on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.67.

About Regions Financial

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.