First Citizens Bank & Trust Co. Cuts Holdings in Regions Financial Co. (NYSE:RF)

First Citizens Bank & Trust Co. lowered its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 12.8% in the fourth quarter, according to its most recent disclosure with the SEC. 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. owned about 0.06% of Regions Financial worth $12,746,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Duncan Williams Asset Management LLC grew its stake in Regions Financial by 87.6% during the fourth quarter. Duncan Williams Asset Management LLC now owns 88,860 shares of the bank's stock worth $2,090,000 after buying an additional 41,504 shares in the last quarter. Grimes & Company Inc. boosted its position in shares of Regions Financial by 1.7% during the 4th quarter. Grimes & Company Inc. now owns 962,900 shares of the bank's stock worth $22,647,000 after acquiring an additional 16,345 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Regions Financial by 9.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 124,884 shares of the bank's stock valued at $2,937,000 after purchasing an additional 10,491 shares in the last quarter. CX Institutional lifted its stake in Regions Financial by 3.5% during the fourth quarter. CX Institutional now owns 17,821 shares of the bank's stock worth $419,000 after purchasing an additional 599 shares during the last quarter. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Regions Financial in the 4th quarter valued at $592,000. Institutional investors own 79.39% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on RF shares. Truist Financial upped their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a "hold" rating in a research report on Tuesday, January 21st. Barclays lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a report on Monday, January 6th. DA Davidson increased their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Piper Sandler boosted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Stephens upgraded Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 price target for the company in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Regions Financial currently has an average rating of "Moderate Buy" and a consensus target price of $27.67.

Regions Financial Stock Up 0.9 %

RF traded up $0.22 during midday trading on Friday, hitting $24.48. The company had a trading volume of 5,209,577 shares, compared to its average volume of 7,380,478. The stock's 50 day moving average price is $24.93 and its 200 day moving average price is $23.55. Regions Financial Co. has a 52 week low of $17.42 and a 52 week high of $27.96. The company has a market capitalization of $22.25 billion, a price-to-earnings ratio of 12.62, a PEG 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 (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 20.20% and a return on equity of 12.83%. Regions Financial's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. On average, research analysts anticipate that Regions Financial Co. will post 2.27 earnings per share for the current fiscal year.

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.