First Citizens Bank & Trust Co. increased its stake in shares of Regions Financial Corp (NYSE:RF) by 24.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,925 shares of the bank’s stock after purchasing an additional 26,205 shares during the period. First Citizens Bank & Trust Co.’s holdings in Regions Financial were worth $2,297,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Salem Investment Counselors Inc. raised its holdings in Regions Financial by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after acquiring an additional 26 shares in the last quarter. Sentry Investment Management LLC raised its holdings in Regions Financial by 0.7% during the second quarter. Sentry Investment Management LLC now owns 53,166 shares of the bank’s stock worth $778,000 after acquiring an additional 345 shares in the last quarter. Moors & Cabot Inc. raised its holdings in Regions Financial by 1.8% during the second quarter. Moors & Cabot Inc. now owns 38,785 shares of the bank’s stock worth $567,000 after acquiring an additional 702 shares in the last quarter. Woodmont Investment Counsel LLC raised its holdings in Regions Financial by 8.3% during the second quarter. Woodmont Investment Counsel LLC now owns 11,724 shares of the bank’s stock worth $172,000 after acquiring an additional 894 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in Regions Financial by 3.0% during the second quarter. Thrivent Financial For Lutherans now owns 45,537 shares of the bank’s stock worth $667,000 after acquiring an additional 1,310 shares in the last quarter. 77.10% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on RF. Morgan Stanley upped their target price on Regions Financial from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday. Nomura restated a “neutral” rating and issued a $17.00 price objective (up previously from $16.00) on shares of Regions Financial in a research note on Thursday, October 26th. Robert W. Baird restated a “sell” rating and issued a $17.00 price objective on shares of Regions Financial in a research note on Wednesday, January 3rd. Sandler O’Neill upgraded Regions Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 22nd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $18.00 price objective on shares of Regions Financial in a research note on Sunday, January 21st. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.24.
Shares of Regions Financial Corp (RF) traded down $0.29 during trading hours on Friday, reaching $19.25. The company had a trading volume of 14,225,986 shares, compared to its average volume of 9,510,000. The firm has a market capitalization of $22,330.00, a P/E ratio of 19.25, a P/E/G ratio of 1.44 and a beta of 1.32. Regions Financial Corp has a 1-year low of $13.00 and a 1-year high of $19.90. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.53.
Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a return on equity of 7.87% and a net margin of 20.48%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. sell-side analysts predict that Regions Financial Corp will post 1.34 EPS for the current fiscal year.
In other news, EVP John B. Owen sold 40,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total value of $626,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott M. Peters sold 25,627 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $19.50, for a total value of $499,726.50. Following the completion of the transaction, the executive vice president now owns 240,796 shares of the company’s stock, valued at $4,695,522. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,627 shares of company stock worth $1,382,127. Company insiders own 0.52% of the company’s stock.
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Regions Financial 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.
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