Oakworth Capital Inc. Lowers Stock Position in Regions Financial Co. (NYSE:RF)

Oakworth Capital Inc. lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 56.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,009 shares of the bank’s stock after selling 128,556 shares during the quarter. Oakworth Capital Inc.’s holdings in Regions Financial were worth $2,329,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. State Street Corp lifted 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 purchasing an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Regions Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after purchasing an additional 816,226 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Regions Financial by 1.4% during the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after purchasing an additional 315,605 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Regions Financial by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after purchasing an additional 1,014,706 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Regions Financial by 0.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock worth $191,921,000 after purchasing an additional 61,426 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $24.35 on Thursday. 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 capitalization of $22.13 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.97 and a beta of 1.20. The firm’s 50 day moving average is $24.61 and its two-hundred day moving average is $23.72. Regions Financial Co. has a 52 week low of $17.42 and a 52 week high of $27.96.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion for 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 company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. Research analysts forecast that Regions Financial Co. will post 2.27 EPS for the current fiscal year.

Analyst Ratings Changes

RF has been the topic of several research reports. 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 research report on Tuesday, January 21st. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.67.

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.