First Citizens Bank & Trust Co. Sells 79,552 Shares of Regions Financial Co. (NYSE:RF)

First Citizens Bank & Trust Co. trimmed its position in Regions Financial Co. (NYSE:RF) by 12.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 541,920 shares of the bank’s stock after selling 79,552 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Regions Financial were worth $12,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after buying an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after purchasing an additional 816,226 shares in the last quarter. Geode Capital Management LLC increased its holdings in Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after purchasing an additional 315,605 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after purchasing an additional 1,014,706 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Regions Financial by 0.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock worth $191,921,000 after purchasing an additional 61,426 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Up 0.9 %

NYSE:RF opened at $24.48 on Friday. The company 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 stock’s fifty day moving average price is $24.93 and its two-hundred day moving average price is $23.55. Regions Financial Co. has a 1 year low of $17.42 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,857,300 billion. During the same quarter last year, the business posted $0.39 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Regions Financial Co. will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RF shares. Wells Fargo & Company boosted their price objective on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. The Goldman Sachs Group upped their target price on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Truist Financial upped their target price on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a report on Tuesday, October 29th. Finally, DA Davidson upped their target price on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

About Regions Financial

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.