Harmony Asset Management LLC Has $331,000 Holdings in Regions Financial Corporation $RF

Harmony Asset Management LLC trimmed its position in shares of Regions Financial Corporation (NYSE:RF) by 74.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,660 shares of the bank’s stock after selling 36,545 shares during the quarter. Harmony Asset Management LLC’s holdings in Regions Financial were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC raised its stake in shares of Regions Financial by 14.8% in the first quarter. Sanctuary Advisors LLC now owns 775,230 shares of the bank’s stock valued at $20,249,000 after acquiring an additional 99,934 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Regions Financial by 13.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 23,083 shares of the bank’s stock worth $603,000 after acquiring an additional 2,729 shares during the last quarter. ABC Arbitrage SA bought a new stake in Regions Financial during the 1st quarter worth approximately $2,602,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Regions Financial during the 1st quarter valued at $630,000. Finally, Citizens National Bank Trust Department acquired a new stake in Regions Financial during the 1st quarter valued at $152,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RF shares. Evercore reissued an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. Truist Financial restated a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a research note on Tuesday, April 21st. Robert W. Baird reiterated an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a research report on Monday, July 6th. DA Davidson lowered shares of Regions Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $35.00 to $33.00 in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.28.

Regions Financial Stock Up 1.9%

Shares of NYSE:RF opened at $31.50 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $26.88 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.20 and a beta of 1.00. The company has a 50 day moving average of $28.78 and a 200-day moving average of $28.18. Regions Financial Corporation has a one year low of $22.70 and a one year high of $31.55.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the business posted $0.54 earnings per share. Regions Financial’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that Regions Financial Corporation will post 2.6 earnings per share for the current year.

Insider Activity at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.