Regions Financial Co. (NYSE:RF) Position Increased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lifted its position in Regions Financial Co. (NYSE:RF) by 12.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 54,133 shares of the bank’s stock after buying an additional 5,882 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Regions Financial were worth $1,313,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RF. State Street Corp boosted its stake in Regions Financial by 16.3% in the 3rd 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 during the period. National Bank of Canada FI boosted its position in shares of Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after buying an additional 1,452,956 shares during the period. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $201,238,000 after buying an additional 1,014,706 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 valued at $648,269,000 after buying an additional 816,226 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Regions Financial in the 3rd quarter worth about $17,589,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RF. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. 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. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Compass Point increased their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. One investment 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Stock Performance

NYSE:RF opened at $24.37 on Wednesday. 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 1 year low of $17.42 and a 1 year high of $27.96. The firm’s fifty day simple moving average is $24.67 and its 200 day simple moving average is $23.71. The firm has a market capitalization of $22.15 billion, a PE ratio of 12.56, a PEG ratio of 1.97 and a beta of 1.20.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company posted $0.39 earnings per share. Regions Financial’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.27 EPS for the current year.

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.