Texas Permanent School Fund Boosts Stock Holdings in Regions Financial Co. (NYSE:RF)

Texas Permanent School Fund increased its position in Regions Financial Co. (NYSE:RFGet Rating) by 7.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 132,211 shares of the bank’s stock after acquiring an additional 8,777 shares during the period. Texas Permanent School Fund’s holdings in Regions Financial were worth $2,653,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Hudock Inc. purchased a new position in shares of Regions Financial in the second quarter worth $37,000. SeaCrest Wealth Management LLC purchased a new position in Regions Financial in the 2nd quarter worth about $43,000. Parkside Financial Bank & Trust lifted its stake in Regions Financial by 41.7% during the 1st quarter. Parkside Financial Bank & Trust now owns 2,505 shares of the bank’s stock valued at $56,000 after acquiring an additional 737 shares during the period. Evoke Wealth LLC grew its stake in shares of Regions Financial by 94.4% in the second quarter. Evoke Wealth LLC now owns 2,620 shares of the bank’s stock worth $49,000 after acquiring an additional 1,272 shares during the period. Finally, MBM Wealth Consultants LLC raised its holdings in shares of Regions Financial by 43.2% during the first quarter. MBM Wealth Consultants LLC now owns 3,118 shares of the bank’s stock valued at $69,000 after purchasing an additional 940 shares during the last quarter. 72.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. DA Davidson initiated coverage on shares of Regions Financial in a report on Tuesday, December 20th. They issued a “buy” rating and a $25.00 target price on the stock. Barclays lifted their price objective on Regions Financial from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 3rd. Compass Point lowered their target price on Regions Financial to $23.00 in a report on Thursday, October 20th. Wedbush restated an “outperform” rating and set a $25.00 price target on shares of Regions Financial in a research note on Wednesday, September 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Regions Financial from $25.00 to $24.00 in a research note on Friday. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.94.

Regions Financial Trading Up 3.3 %

Shares of RF stock opened at $22.39 on Monday. The stock has a fifty day simple moving average of $22.08 and a two-hundred day simple moving average of $21.30. Regions Financial Co. has a 52-week low of $18.01 and a 52-week high of $25.57. The firm has a market capitalization of $20.92 billion, a PE ratio of 11.20, a PEG ratio of 0.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.81 and a current ratio of 0.81.

Regions Financial (NYSE:RFGet Rating) last released its earnings results on Friday, October 21st. The bank reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.03). Regions Financial had a return on equity of 14.13% and a net margin of 28.34%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts predict that Regions Financial Co. will post 2.37 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Thursday, December 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.57%. Regions Financial’s dividend payout ratio is 40.00%.

Regions Financial Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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