California Public Employees Retirement System reduced its position in shares of Regions Financial Corp (NYSE:RF) by 7.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,948,902 shares of the bank’s stock after selling 231,821 shares during the period. California Public Employees Retirement System’s holdings in Regions Financial were worth $41,727,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Buffington Mohr McNeal bought a new position in shares of Regions Financial during the first quarter valued at about $28,000. Lindbrook Capital LLC purchased a new stake in Regions Financial during the fourth quarter worth about $27,000. Legacy Financial Advisors Inc. purchased a new stake in Regions Financial during the fourth quarter worth about $30,000. Financial Architects Inc purchased a new stake in Regions Financial during the fourth quarter worth about $31,000. Finally, Whittier Trust Co. increased its holdings in Regions Financial by 84.7% during the fourth quarter. Whittier Trust Co. now owns 2,770 shares of the bank’s stock worth $37,000 after buying an additional 1,270 shares during the last quarter. 71.80% of the stock is currently owned by institutional investors.
A number of analysts recently issued reports on RF shares. Sandler O’Neill upgraded shares of Regions Financial from a “hold” rating to a “buy” rating in a report on Monday, March 25th. UBS Group set a $17.00 price objective on shares of Regions Financial and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Morgan Stanley decreased their price objective on shares of Regions Financial from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. FIG Partners restated a “market-perform” rating on shares of Regions Financial in a report on Thursday, February 21st. Finally, Nomura upgraded shares of Regions Financial from a “reduce” rating to a “neutral” rating and set a $14.00 price objective for the company in a report on Friday, March 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Regions Financial presently has a consensus rating of “Hold” and a consensus target price of $17.19.
RF opened at $14.54 on Wednesday. The stock has a market capitalization of $14.53 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.90. Regions Financial Corp has a twelve month low of $12.39 and a twelve month high of $19.99.
Regions Financial (NYSE:RF) last posted its earnings results on Thursday, April 18th. The bank reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.46 billion. Regions Financial had a net margin of 26.38% and a return on equity of 10.76%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. On average, equities research analysts anticipate that Regions Financial Corp will post 1.57 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.56 annualized dividend and a dividend yield of 3.85%. Regions Financial’s payout ratio is 41.18%.
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About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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