First Citizens Bank & Trust Co. Grows Holdings in Regions Financial Corporation $RF

First Citizens Bank & Trust Co. grew its stake in shares of Regions Financial Corporation (NYSE:RF) by 6.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 690,344 shares of the bank’s stock after buying an additional 44,252 shares during the period. First Citizens Bank & Trust Co.’s holdings in Regions Financial were worth $18,204,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. American National Bank & Trust increased its stake in Regions Financial by 2,433.3% in the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,022 shares during the last quarter. CVA Family Office LLC boosted its holdings in shares of Regions Financial by 163.2% in the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after purchasing an additional 656 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Regions Financial in the 2nd quarter worth about $25,000. FNY Investment Advisers LLC bought a new position in shares of Regions Financial during the 2nd quarter valued at about $30,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Regions Financial during the 2nd quarter valued at about $32,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Down 2.8%

NYSE: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 P/E/G ratio of 0.98 and a beta of 1.03. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $26.99 and a 200 day moving average of $26.10. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $29.25.

Regions Financial (NYSE:RF) last announced its quarterly earnings results 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). The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.Regions Financial’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. On average, research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial declared that its board has approved a share repurchase plan on Wednesday, December 10th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Stephens reaffirmed an “equal weight” rating and issued a $27.00 target price (down previously from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Piper Sandler boosted their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays increased their target price on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Evercore ISI downgraded shares of Regions Financial from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $29.27.

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.