Kentucky Retirement Systems Sells 5,260 Shares of Regions Financial Co. (NYSE:RF)

Kentucky Retirement Systems cut its position in Regions Financial Co. (NYSE:RF) by 7.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 63,753 shares of the bank’s stock after selling 5,260 shares during the period. Kentucky Retirement Systems’ holdings in Regions Financial were worth $1,487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after acquiring an additional 979,597 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after purchasing an additional 1,014,706 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Regions Financial by 17.1% during the second quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock valued at $59,421,000 after purchasing an additional 433,319 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Regions Financial by 12.9% during the second quarter. Wedge Capital Management L L P NC now owns 2,343,629 shares of the bank’s stock valued at $46,966,000 after buying an additional 266,934 shares during the last quarter. Finally, National Pension Service increased its holdings in Regions Financial by 6.3% in the 3rd quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after buying an additional 102,380 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RF. Wells Fargo & Company upped their target price on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday. Argus upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Wedbush raised their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Truist Financial upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.18.

Regions Financial Stock Down 0.1 %

Shares of RF stock opened at $26.33 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a one year low of $15.79 and a one year high of $26.73. The company’s fifty day moving average price is $23.61 and its 200-day moving average price is $21.61. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 2.76 and a beta of 1.16.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business earned $0.49 earnings per share. Regions Financial’s revenue was down 3.7% compared to the same quarter last year. Sell-side analysts expect that Regions Financial Co. will post 2.1 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.80%. Regions Financial’s payout ratio is 56.50%.

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.