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

Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in Regions Financial Corporation (NYSE:RF) by 7.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,196 shares of the bank’s stock after buying an additional 4,497 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Regions Financial were worth $1,510,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. American National Bank & Trust grew its holdings in shares of Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after purchasing an additional 1,022 shares during the last quarter. Bayforest Capital Ltd grew its holdings in shares of Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after purchasing an additional 1,058 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Regions Financial during the first quarter worth about $36,000. Grove Bank & Trust grew its holdings in shares of Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock worth $41,000 after purchasing an additional 814 shares during the last quarter. Finally, Groupe la Francaise purchased a new position in shares of Regions Financial during the first quarter worth about $41,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Transactions at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roger W. Jenkins acquired 4,000 shares of Regions Financial stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $25.48 per share, with a total value of $101,920.00. Following the transaction, the director owned 6,383 shares of the company’s stock, valued at $162,638.84. This trade represents 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 Price Performance

Shares of NYSE:RF opened at $25.15 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. The company has a market cap of $22.44 billion, a P/E ratio of 11.70, a PEG ratio of 1.17 and a beta of 1.02. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The company has a 50-day moving average price of $26.28 and a 200 day moving average price of $23.64.

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

Wall Street Analyst Weigh In

RF has been the topic of several research reports. Wall Street Zen raised Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Morgan Stanley set a $32.00 price objective on Regions Financial in a report on Monday, September 29th. Cantor Fitzgerald began coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $30.00 target price for the company. Stephens reiterated an “equal weight” rating and set a $27.00 target price (down previously from $30.00) on shares of Regions Financial in a research note on Tuesday. Finally, DA Davidson increased their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.79.

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.