New York State Teachers Retirement System Trims Stock Position in Regions Financial Co. (NYSE:RF)

New York State Teachers Retirement System cut its position in shares of Regions Financial Co. (NYSE:RF) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 824,248 shares of the bank’s stock after selling 25,578 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Regions Financial worth $19,386,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after acquiring an additional 7,791,399 shares during the period. National Bank of Canada FI raised its stake in shares of Regions Financial by 575.8% in the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after acquiring an additional 1,452,956 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Regions Financial by 13.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after acquiring an additional 1,014,706 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after acquiring an additional 816,226 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Regions Financial in the third quarter valued at approximately $17,589,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 1.1 %

RF stock opened at $24.32 on Monday. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The stock has a market capitalization of $22.10 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The company has a fifty day moving average of $24.23 and a 200-day moving average of $23.83.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned $0.39 EPS. The business’s revenue was up .2% on a year-over-year basis. As a group, analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Argus upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, October 24th. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $28.00 in a report on Thursday, October 31st. Finally, Piper Sandler boosted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and an average target price of $27.67.

About Regions Financial

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.