California Public Employees Retirement System Decreases Holdings in Regions Financial Co. (NYSE:RF)

California Public Employees Retirement System decreased its position in Regions Financial Co. (NYSE:RF) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,794,605 shares of the bank’s stock after selling 54,784 shares during the quarter. California Public Employees Retirement System owned 0.19% of Regions Financial worth $34,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of RF. Wellington Management Group LLP boosted its stake in shares of Regions Financial by 8.4% in the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after purchasing an additional 4,160,768 shares in the last quarter. Bahl & Gaynor Inc. boosted its position in Regions Financial by 162.1% during the third quarter. Bahl & Gaynor Inc. now owns 5,904,595 shares of the bank’s stock valued at $101,559,000 after buying an additional 3,651,390 shares during the period. Vanguard Group Inc. grew its stake in shares of Regions Financial by 2.7% during the third quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock valued at $1,970,871,000 after buying an additional 2,982,310 shares during the last quarter. Invesco Ltd. increased its stake in Regions Financial by 15.1% in the 3rd quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock worth $190,682,000 after purchasing an additional 1,455,499 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Regions Financial by 13.4% in the third quarter. Northern Trust Corp now owns 10,761,543 shares of the bank’s stock worth $185,099,000 after buying an additional 1,268,045 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Insider Transactions at Regions Financial

In other news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RF shares. Stephens reissued an “equal weight” rating and set a $21.00 target price on shares of Regions Financial in a research note on Tuesday, January 23rd. Evercore ISI raised their target price on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Piper Sandler lifted their price target on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank of Canada upped their target price on shares of Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Finally, Barclays reiterated an “underweight” rating and issued a $22.00 target price (up previously from $20.00) on shares of Regions Financial in a research note on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.34.

Regions Financial Price Performance

RF stock opened at $19.62 on Friday. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $21.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $19.43 and a two-hundred day simple moving average of $18.09. The firm has a market capitalization of $18.03 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. Regions Financial’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. Analysts anticipate that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company 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 Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 4.89%. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Regions Financial 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.