Regions Financial Corporation $RF Position Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Regions Financial Corporation (NYSE:RF) by 7.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 728,677 shares of the bank’s stock after selling 61,387 shares during the period. New York State Teachers Retirement System owned 0.08% of Regions Financial worth $19,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Regions Financial by 7.2% in the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after acquiring an additional 1,278 shares in the last quarter. Woodline Partners LP raised its position in shares of Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after acquiring an additional 22,216 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Regions Financial by 0.7% during the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after acquiring an additional 511 shares in the last quarter. Federated Hermes Inc. lifted its stake in Regions Financial by 81.2% during the second quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock worth $275,000 after purchasing an additional 5,233 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Regions Financial by 5.0% during the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after purchasing an additional 6,690 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Regions Financial Trading Up 0.0%

Shares of RF stock opened at $30.29 on Friday. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $31.53. The firm has a market capitalization of $25.84 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.00. The stock has a fifty day moving average of $28.38 and a two-hundred day moving average of $28.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts expect that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.5%. Regions Financial’s dividend payout ratio (DPR) is presently 44.17%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RF. Stephens initiated coverage on shares of Regions Financial in a research note on Monday, June 15th. They set an “equal weight” rating and a $31.00 target price for the company. Morgan Stanley raised their price target on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Royal Bank Of Canada lifted their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Piper Sandler lowered their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, March 30th. Finally, DA Davidson increased their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus price target of $30.80.

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.