Regions Financial Co. (NYSE:RF) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in Regions Financial Co. (NYSE:RF) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,171 shares of the bank’s stock after selling 4,244 shares during the quarter. Kentucky Retirement Systems’ holdings in Regions Financial were worth $1,476,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Regions Financial by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares in the last quarter. Norges Bank acquired a new stake in shares of Regions Financial in the 4th quarter valued at about $210,379,000. Allspring Global Investments Holdings LLC raised its stake in shares of Regions Financial by 1.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock valued at $162,163,000 after purchasing an additional 103,529 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Regions Financial by 19.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank’s stock valued at $70,952,000 after purchasing an additional 606,647 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Activity

In other news, EVP William D. Ritter sold 23,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RF shares. Evercore ISI cut their target price on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Piper Sandler upped their target price on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Morgan Stanley cut their target price on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Truist Financial upped their target price on shares of Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Finally, Bank of America increased their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.32.

Regions Financial Stock Performance

NYSE RF traded up $0.21 on Friday, hitting $22.76. The stock had a trading volume of 7,329,041 shares, compared to its average volume of 9,182,820. Regions Financial Co. has a one year low of $13.72 and a one year high of $22.85. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock has a market cap of $20.83 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 2.93 and a beta of 1.18. The company’s 50-day moving average is $19.83 and its two-hundred day moving average is $19.42.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. Regions Financial’s quarterly revenue was down 11.5% on a year-over-year basis. On average, analysts expect that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.39%. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

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.