California Public Employees Retirement System decreased its stake in shares of Regions Financial Corp (NYSE:RF) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,991,930 shares of the bank’s stock after selling 149,266 shares during the period. California Public Employees Retirement System owned approximately 0.36% of Regions Financial worth $74,170,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in RF. IFG Advisory LLC purchased a new position in Regions Financial during the 4th quarter valued at about $306,000. AdvisorNet Financial Inc purchased a new position in Regions Financial during the 1st quarter valued at about $117,000. Avestar Capital LLC purchased a new position in Regions Financial during the 4th quarter valued at about $135,000. Signaturefd LLC purchased a new position in Regions Financial during the 1st quarter valued at about $167,000. Finally, Captrust Financial Advisors purchased a new position in Regions Financial during the 4th quarter valued at about $166,000. 74.98% of the stock is currently owned by hedge funds and other institutional investors.
RF has been the subject of a number of recent research reports. ValuEngine raised shares of Regions Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. B. Riley lifted their price target on shares of Regions Financial from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, April 24th. Finally, Keefe, Bruyette & Woods reissued a “neutral” rating on shares of Regions Financial in a research report on Sunday, April 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.56.
Shares of RF stock opened at $18.62 on Friday. Regions Financial Corp has a 52 week low of $13.02 and a 52 week high of $20.21. The company has a market capitalization of $21.19 billion, a PE ratio of 18.62, a P/E/G ratio of 0.96 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.86 and a quick ratio of 0.85.
Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, April 20th. The bank reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. Regions Financial had a net margin of 22.06% and a return on equity of 8.75%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business posted $0.23 earnings per share. equities research analysts anticipate that Regions Financial Corp will post 1.4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 8th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.93%. Regions Financial’s dividend payout ratio is presently 36.00%.
Regions Financial Company Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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