Teachers Retirement System of The State of Kentucky Decreases Stock Holdings in Regions Financial Co. (NYSE:RF)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Regions Financial Co. (NYSE:RF) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,686 shares of the bank’s stock after selling 3,351 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Regions Financial were worth $1,563,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Laurel Wealth Advisors LLC lifted its stake in Regions Financial by 86.5% in the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after purchasing an additional 649 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after buying an additional 750 shares during the period. Glassman Wealth Services raised its position in shares of Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after buying an additional 967 shares during the period. Voisard Asset Management Group Inc. purchased a new stake in shares of Regions Financial during the 4th quarter valued at approximately $46,000. Finally, West Paces Advisors Inc. raised its position in shares of Regions Financial by 277.2% during the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after buying an additional 1,752 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of RF stock opened at $18.93 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average price of $19.26 and a 200 day moving average price of $19.10. The company has a market cap of $17.34 billion, a P/E ratio of 10.29, a PEG ratio of 2.07 and a beta of 1.19. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $21.08.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the firm earned $0.62 earnings per share. Regions Financial’s revenue was down 10.5% on a year-over-year basis. Sell-side analysts predict that Regions Financial Co. will post 1.96 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.07%. Regions Financial’s payout ratio is 52.17%.

Insider Activity

In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RF shares. Keefe, Bruyette & Woods lifted their price target on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Piper Sandler boosted their target price on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Evercore ISI boosted their target price on Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Finally, Morgan Stanley cut their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.34.

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.