BTC Capital Management Inc. Trims Stock Holdings in Regions Financial Co. (NYSE:RF)

BTC Capital Management Inc. cut its holdings in Regions Financial Co. (NYSE:RF) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 252,936 shares of the bank’s stock after selling 5,959 shares during the period. BTC Capital Management Inc.’s holdings in Regions Financial were worth $5,949,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. American National Bank & Trust boosted its position in shares of Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,114 shares during the period. Quarry LP lifted its stake in Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after purchasing an additional 816 shares in the last quarter. Truvestments Capital LLC bought a new position in Regions Financial in the 3rd quarter valued at $37,000. Legacy Investment Solutions LLC purchased a new position in shares of Regions Financial during the 3rd quarter valued at $37,000. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of Regions Financial by 163.1% in the third quarter. Bruce G. Allen Investments LLC now owns 2,392 shares of the bank’s stock worth $56,000 after purchasing an additional 1,483 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on RF. Piper Sandler boosted their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Truist Financial increased their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group lifted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Stock Performance

Shares of RF stock opened at $24.77 on Friday. The company has a market capitalization of $22.51 billion, a P/E ratio of 12.77, a PEG ratio of 1.97 and a beta of 1.21. Regions Financial Co. has a fifty-two week low of $17.42 and a fifty-two week high of $27.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50 day moving average price of $24.83 and a two-hundred day moving average price of $23.64.

Regions Financial (NYSE:RF) last posted 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 company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. Analysts expect that Regions Financial Co. will post 2.27 earnings per share for the current 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.