First Citizens Bank & Trust Co. Buys 44,252 Shares of Regions Financial Corporation $RF

First Citizens Bank & Trust Co. boosted its stake in Regions Financial Corporation (NYSE:RF) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 690,344 shares of the bank’s stock after acquiring an additional 44,252 shares during the period. First Citizens Bank & Trust Co. owned 0.08% of Regions Financial worth $18,204,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American National Bank & Trust raised its holdings in shares of Regions Financial by 2,433.3% in the 2nd 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 period. CVA Family Office LLC grew its holdings in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after purchasing an additional 656 shares during the period. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the second quarter worth $25,000. FNY Investment Advisers LLC bought a new stake in shares of Regions Financial in the second quarter valued at $30,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Regions Financial during the 2nd quarter valued at $32,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays lifted their price objective on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Wall Street Zen lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. The Goldman Sachs Group restated a “buy” rating and set a $32.00 price target on shares of Regions Financial in a research note on Tuesday, January 6th. Piper Sandler lifted their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Evercore ISI cut shares of Regions Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $27.00 to $29.00 in a report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.27.

Regions Financial Stock Down 2.8%

RF opened at $27.49 on Friday. The firm has a market capitalization of $24.10 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. Regions Financial Corporation has a one year low of $17.74 and a one year high of $29.25. The company has a fifty day moving average price of $26.99 and a 200-day moving average price of $26.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the business posted $0.56 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial declared that its board has authorized a stock buyback program on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Regions Financial 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.