California State Teachers Retirement System Has $31.60 Million Stock Position in Regions Financial Co. (NYSE:RF)

California State Teachers Retirement System cut its holdings in shares of Regions Financial Co. (NYSE:RF – Get Rating) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,574,660 shares of the bank’s stock after selling 19,061 shares during the period. California State Teachers Retirement System’s holdings in Regions Financial were worth $31,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Transamerica Financial Advisors Inc. increased its holdings in Regions Financial by 9.3% in the third quarter. Transamerica Financial Advisors Inc. now owns 5,324 shares of the bank’s stock valued at $107,000 after purchasing an additional 451 shares during the last quarter. Stephens Inc. AR raised its position in shares of Regions Financial by 0.6% in the 3rd quarter. Stephens Inc. AR now owns 77,760 shares of the bank’s stock valued at $1,561,000 after acquiring an additional 490 shares during the period. Lake Street Advisors Group LLC boosted its stake in Regions Financial by 3.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 18,600 shares of the bank’s stock worth $373,000 after acquiring an additional 588 shares during the last quarter. Lcnb Corp grew its holdings in Regions Financial by 4.3% during the second quarter. Lcnb Corp now owns 14,404 shares of the bank’s stock valued at $270,000 after purchasing an additional 600 shares during the period. Finally, Csenge Advisory Group increased its stake in Regions Financial by 2.1% in the third quarter. Csenge Advisory Group now owns 29,619 shares of the bank’s stock valued at $594,000 after purchasing an additional 609 shares in the last quarter. Institutional investors own 72.87% of the company’s stock.

Regions Financial Trading Down 3.9 %

Regions Financial stock opened at $17.89 on Friday. The stock has a 50-day simple moving average of $22.53 and a 200 day simple moving average of $21.95. The stock has a market capitalization of $16.72 billion, a P/E ratio of 7.88, a PEG ratio of 0.68 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.81 and a current ratio of 0.82. Regions Financial Co. has a 52 week low of $13.94 and a 52 week high of $24.33.

Regions Financial (NYSE:RF – Get Rating) last issued its earnings results on Friday, January 20th. The bank reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. Regions Financial had a return on equity of 16.14% and a net margin of 29.81%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.94 billion. Analysts expect that Regions Financial Co. will post 2.57 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Friday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.80 annualized dividend and a dividend yield of 4.47%. Regions Financial’s dividend payout ratio is currently 35.24%.

Insider Activity

In related news, EVP William D. Ritter sold 13,000 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $23.42, for a total value of $304,460.00. Following the transaction, the executive vice president now owns 24,344 shares in the company, valued at approximately $570,136.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP C. Matthew Lusco sold 100,000 shares of the business’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $22.83, for a total value of $2,283,000.00. Following the completion of the sale, the executive vice president now directly owns 77,843 shares in the company, valued at approximately $1,777,155.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William D. Ritter sold 13,000 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $23.42, for a total value of $304,460.00. Following the transaction, the executive vice president now owns 24,344 shares in the company, valued at approximately $570,136.48. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

RF has been the topic of several recent analyst reports. Wells Fargo & Company cut Regions Financial from an “outperform” rating to a “market perform” rating in a report on Monday, November 21st. UBS Group cut Regions Financial from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a report on Tuesday, January 10th. Raymond James lowered Regions Financial from an “outperform” rating to a “market perform” rating in a report on Monday, November 21st. Truist Financial increased their price objective on Regions Financial from $24.00 to $27.00 in a report on Monday, January 23rd. Finally, Morgan Stanley upped their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, January 23rd. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Regions Financial presently has an average rating of “Hold” and an average price target of $25.00.

About Regions Financial

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Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.