The Shell Asset Management Co. Has $1,287,000 Position in Regions Financial Corp. (RF)

The Shell Asset Management Co. Has $1,287,000 Position in Regions Financial Corp. (RF)

Shell Asset Management Co. lowered its stake in shares of Regions Financial Corp. (NYSE:RF) by 16.2% during the third quarter, Holdings Channel reports. The institutional investor owned 130,347 shares of the company’s stock after selling 25,193 shares during the period. Shell Asset Management Co.’s holdings in Regions Financial Corp. were worth $1,287,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RF. Vanguard Group Inc. raised its stake in shares of Regions Financial Corp. by 1.0% in the second quarter. Vanguard Group Inc. now owns 127,898,103 shares of the company’s stock valued at $1,088,413,000 after buying an additional 1,317,327 shares during the period. FMR LLC raised its stake in shares of Regions Financial Corp. by 3.0% in the second quarter. FMR LLC now owns 113,805,979 shares of the company’s stock valued at $968,488,000 after buying an additional 3,323,092 shares during the period. State Street Corp raised its stake in shares of Regions Financial Corp. by 1.9% in the second quarter. State Street Corp now owns 66,867,165 shares of the company’s stock valued at $569,040,000 after buying an additional 1,241,187 shares during the period. LSV Asset Management raised its stake in shares of Regions Financial Corp. by 2.7% in the second quarter. LSV Asset Management now owns 33,211,384 shares of the company’s stock valued at $282,628,000 after buying an additional 865,037 shares during the period. Finally, Basswood Capital Management L.L.C. raised its stake in shares of Regions Financial Corp. by 70.7% in the second quarter. Basswood Capital Management L.L.C. now owns 11,942,752 shares of the company’s stock valued at $101,633,000 after buying an additional 4,944,933 shares during the period. Institutional investors own 71.91% of the company’s stock.

Shares of Regions Financial Corp. (NYSE:RF) traded down 0.36% on Thursday, hitting $13.98. 12,778,709 shares of the stock traded hands. The firm has a market cap of $17.21 billion, a P/E ratio of 16.43 and a beta of 1.46. The firm’s 50-day moving average is $14.34 and its 200 day moving average is $11.15. Regions Financial Corp. has a 12-month low of $7.00 and a 12-month high of $14.93.

A number of equities analysts recently weighed in on the stock. Barclays PLC boosted their price target on shares of Regions Financial Corp. from $10.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 3rd. Wedbush boosted their price target on shares of Regions Financial Corp. from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 6th. Evercore ISI boosted their price target on shares of Regions Financial Corp. from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, December 5th. Susquehanna lowered shares of Regions Financial Corp. from a “positive” rating to a “neutral” rating in a research report on Thursday, December 1st. They noted that the move was a valuation call. Finally, Deutsche Bank AG boosted their price target on shares of Regions Financial Corp. from $10.50 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, November 30th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Regions Financial Corp. presently has a consensus rating of “Hold” and an average target price of $11.54.

In related news, EVP William D. Ritter sold 69,410 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $10.73, for a total value of $744,769.30. Following the transaction, the executive vice president now owns 321,691 shares in the company, valued at $3,451,744.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William E. Horton sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $13.17, for a total transaction of $158,040.00. Following the completion of the transaction, the executive vice president now owns 19,434 shares in the company, valued at approximately $255,945.78. The disclosure for this sale can be found here. Insiders sold 131,410 shares of company stock worth $1,552,309 over the last three months. Corporate insiders own 0.88% of the company’s stock.

Regions Financial Corp. Company Profile

Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corp. (NYSE:RF).

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