First Citizens Bank & Trust Co. Has $14.50 Million Stock Position in Regions Financial Co. (NYSE:RF)

First Citizens Bank & Trust Co. grew its position in Regions Financial Co. (NYSE:RF - Free Report) by 39.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 621,472 shares of the bank's stock after buying an additional 177,155 shares during the quarter. First Citizens Bank & Trust Co. owned 0.07% of Regions Financial worth $14,499,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. lifted its position in Regions Financial by 8.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 17,642 shares of the bank's stock valued at $346,000 after buying an additional 1,401 shares in the last quarter. Quadrature Capital Ltd increased its position in Regions Financial by 8.2% in the 4th quarter. Quadrature Capital Ltd now owns 15,806 shares of the bank's stock valued at $306,000 after acquiring an additional 1,196 shares during the period. CWM LLC lifted its stake in shares of Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank's stock worth $866,000 after acquiring an additional 556 shares during the period. GAMMA Investing LLC increased its position in shares of Regions Financial by 10.1% during the 1st quarter. GAMMA Investing LLC now owns 9,792 shares of the bank's stock valued at $206,000 after purchasing an additional 900 shares during the period. Finally, Mather Group LLC. bought a new stake in Regions Financial in the first quarter worth about $48,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Trading Down 0.7 %

Shares of RF stock traded down $0.16 on Friday, hitting $23.82. The stock had a trading volume of 11,191,479 shares, compared to its average volume of 7,926,090. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $24.47. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a market cap of $21.81 billion, a P/E ratio of 12.95, a PEG ratio of 2.80 and a beta of 1.17. The company has a fifty day moving average price of $22.65 and a two-hundred day moving average price of $20.88.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 earnings per share. As a group, analysts forecast that Regions Financial Co. will post 2.02 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Monday, December 2nd. Regions Financial's dividend payout ratio (DPR) is presently 54.35%.

Analyst Upgrades and Downgrades

RF has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of Regions Financial from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, July 3rd. Bank of America increased their price objective on Regions Financial from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, July 22nd. Evercore ISI lifted their target price on shares of Regions Financial from $24.50 to $26.00 and gave the company an "in-line" rating in a research note on Wednesday, October 2nd. Royal Bank of Canada increased their price target on shares of Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods decreased their price target on Regions Financial from $22.00 to $21.00 and set a "market perform" rating for the company in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Regions Financial currently has an average rating of "Hold" and a consensus target price of $22.86.

Regions Financial 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.