Kentucky Retirement Systems Sells 1,158 Shares of Regions Financial Co. (NYSE:RF)

Kentucky Retirement Systems lowered its position in shares of Regions Financial Co. (NYSE:RF) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,013 shares of the bank’s stock after selling 1,158 shares during the quarter. Kentucky Retirement Systems’ holdings in Regions Financial were worth $1,383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in shares of Regions Financial during the first quarter worth $26,000. ICA Group Wealth Management LLC acquired a new stake in shares of Regions Financial during the fourth quarter worth $28,000. MV Capital Management Inc. grew its stake in shares of Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after purchasing an additional 618 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,256 shares during the period. Finally, Innealta Capital LLC acquired a new position in Regions Financial in the second quarter valued at about $32,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF opened at $23.11 on Friday. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $23.47. The firm has a market capitalization of $21.16 billion, a PE ratio of 12.56, a PEG ratio of 2.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The business’s 50-day simple moving average is $22.08 and its 200 day simple moving average is $20.42.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. Regions Financial’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. As a group, sell-side analysts expect that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 4.33%. Regions Financial’s dividend payout ratio is currently 54.35%.

Analysts Set New Price Targets

A number of research analysts have issued reports on RF shares. Jefferies Financial Group boosted their target price on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Citigroup boosted their target price on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America boosted their target price on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada boosted their target price on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus price target of $21.69.

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.