Kestra Private Wealth Services LLC Grows Holdings in Regions Financial Co. (NYSE:RF)

Kestra Private Wealth Services LLC raised its position in Regions Financial Co. (NYSE:RF) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,286 shares of the bank’s stock after purchasing an additional 3,978 shares during the period. Kestra Private Wealth Services LLC’s holdings in Regions Financial were worth $3,511,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares during the period. National Bank of Canada FI lifted its holdings in shares of Regions Financial by 575.8% during the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after acquiring an additional 1,452,956 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after acquiring an additional 1,014,706 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after acquiring an additional 816,226 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Regions Financial during the 3rd quarter worth about $17,589,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 1.5 %

Shares of NYSE:RF opened at $24.09 on Tuesday. 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 Co. has a 52-week low of $17.61 and a 52-week high of $27.96. The company has a 50 day moving average of $24.45 and a two-hundred day moving average of $23.77. The company has a market capitalization of $21.89 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RF. The Goldman Sachs Group increased 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. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Wedbush increased their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Truist Financial increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

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.