Regions Financial Co. (NYSE:RF) Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 567,715 shares of the bank's stock after purchasing an additional 25,795 shares during the period. First Citizens Bank & Trust Co. owned approximately 0.06% of Regions Financial worth $12,336,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in RF. Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the period. Geode Capital Management LLC lifted its holdings in Regions Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank's stock worth $540,284,000 after buying an additional 403,283 shares in the last quarter. First Trust Advisors LP boosted its position in Regions Financial by 7.7% in the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank's stock valued at $401,097,000 after buying an additional 1,224,645 shares during the period. Invesco Ltd. boosted its position in Regions Financial by 14.5% in the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock valued at $363,823,000 after buying an additional 1,963,954 shares during the period. Finally, Norges Bank acquired a new position in shares of Regions Financial in the fourth quarter worth $279,103,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Performance

NYSE RF opened at $22.08 on Monday. The business's 50-day moving average price is $20.66 and its 200 day moving average price is $22.78. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The firm has a market cap of $19.85 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.93 and a beta of 0.96. Regions Financial Co. has a 52-week low of $17.72 and a 52-week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, equities research analysts expect that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.

Analyst Upgrades and Downgrades

RF has been the subject of a number of recent research reports. TD Cowen started coverage on Regions Financial in a report on Thursday, May 15th. They issued a "buy" rating and a $31.00 target price for the company. The Goldman Sachs Group decreased their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Citigroup lowered their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Barclays decreased their price target on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Finally, Cowen began coverage on shares of Regions Financial in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Regions Financial currently has an average rating of "Hold" and a consensus target price of $25.80.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares of the company's stock, valued at $370,353.48. The trade was a 15.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.29% of the company's stock.

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.

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