KBC Group NV Sells 516,317 Shares of Regions Financial Co. (NYSE:RF)

KBC Group NV lessened its position in shares of Regions Financial Co. (NYSE:RF) by 56.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 397,896 shares of the bank’s stock after selling 516,317 shares during the period. KBC Group NV’s holdings in Regions Financial were worth $9,359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after buying an additional 7,791,399 shares during the period. National Bank of Canada FI boosted its position in 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 last quarter. Allspring Global Investments Holdings LLC boosted its position in 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 last quarter. Charles Schwab Investment Management Inc. grew its stake 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 in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Regions Financial in the third quarter valued at approximately $17,589,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Regions Financial stock opened at $24.64 on Thursday. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.94 and a beta of 1.21. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12 month low of $17.42 and a 12 month high of $27.96. The stock’s 50 day moving average is $24.86 and its 200-day moving average is $23.63.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. Equities research analysts expect that Regions Financial Co. will post 2.27 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on RF shares. Piper Sandler increased their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Evercore ISI lifted their target price on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Compass Point increased their price target on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Truist Financial boosted their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.67.

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.