Regions Financial Co. (NYSE:RF) Position Cut by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in Regions Financial Co. (NYSE:RF) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,649 shares of the bank’s stock after selling 2,119 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Regions Financial were worth $1,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in Regions Financial in the first quarter worth $26,000. Quarry LP grew its position in shares of Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares during the period. MV Capital Management Inc. raised 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 buying an additional 618 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Regions Financial during the second quarter worth $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of NYSE RF opened at $22.84 on Friday. The company has a market capitalization of $20.92 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17. The company’s fifty day moving average price is $22.21 and its 200 day moving average price is $20.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $23.47.

Regions Financial (NYSE:RF) last released its quarterly earnings data 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 firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s revenue was down 11.5% compared to the same quarter last year. During the same period last year, the business earned $0.59 earnings per share. On average, research analysts predict that Regions Financial Co. will post 2.01 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.38%. Regions Financial’s payout ratio is 54.35%.

Wall Street Analysts Forecast Growth

Several analysts have commented on RF shares. Jefferies Financial Group raised their target price on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Evercore ISI raised their price target on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday. Truist Financial lifted their price target on Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods decreased their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Finally, Bank of America boosted their price target on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and a consensus price target of $22.36.

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.