First Citizens Bank & Trust Co. Has $12.75 Million Position in Regions Financial Co. (NYSE:RF)

First Citizens Bank & Trust Co. reduced its position in shares of Regions Financial Co. (NYSE:RF) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 541,920 shares of the bank’s stock after selling 79,552 shares during the period. First Citizens Bank & Trust Co. owned about 0.06% of Regions Financial worth $12,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RF. State Street Corp boosted its position in Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. National Bank of Canada FI boosted its position in Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after purchasing an additional 1,452,956 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in 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 valued at $201,238,000 after purchasing an additional 1,014,706 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after buying an additional 816,226 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Regions Financial in the third quarter valued at approximately $17,589,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.9 %

Shares of NYSE:RF opened at $24.48 on Friday. The firm has a market cap of $22.25 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.94 and a beta of 1.21. 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 Co. has a 12-month low of $17.42 and a 12-month high of $27.96. The business has a fifty day simple moving average of $24.93 and a 200 day simple moving average of $23.55.

Regions Financial (NYSE:RF) last announced 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 business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1,857,300 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. Regions Financial’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. Analysts predict that Regions Financial Co. will post 2.27 earnings per share for the current year.

Wall Street Analyst Weigh In

RF has been the topic of several research analyst reports. Barclays upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, October 24th. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Evercore ISI increased their target price on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler increased their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Regions Financial currently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

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.