Illinois Municipal Retirement Fund Has $6.45 Million Stock Holdings in Regions Financial Corporation $RF

Illinois Municipal Retirement Fund grew its stake in shares of Regions Financial Corporation (NYSE:RF) by 9.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 244,424 shares of the bank’s stock after purchasing an additional 21,821 shares during the period. Illinois Municipal Retirement Fund’s holdings in Regions Financial were worth $6,445,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RF. CVA Family Office LLC lifted its stake in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after buying an additional 656 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Regions Financial in the second quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new stake in shares of Regions Financial during the second quarter valued at approximately $30,000. United Community Bank acquired a new stake in shares of Regions Financial during the third quarter valued at approximately $30,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RF. The Goldman Sachs Group reiterated a “buy” rating and set a $32.00 price objective on shares of Regions Financial in a research report on Tuesday, January 6th. Wall Street Zen cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Piper Sandler upped their price target on Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Evercore downgraded Regions Financial from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Finally, Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective for the company. in a research report on Friday, January 16th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial has an average rating of “Hold” and an average price target of $29.84.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, the executive vice president directly owned 17,569 shares in the company, valued at $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Regions Financial Trading Down 0.2%

NYSE RF opened at $29.73 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $31.53. The firm’s fifty day simple moving average is $28.29 and its 200-day simple moving average is $26.53. The company has a market capitalization of $26.07 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.06 and a beta of 1.04.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $0.265 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 3.6%. Regions Financial’s dividend payout ratio is currently 46.29%.

Regions Financial announced that its board has initiated a stock repurchase plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.