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

Kentucky Retirement Systems Insurance Trust Fund trimmed its stake in shares of Regions Financial Co. (NYSE:RF) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,094 shares of the bank’s stock after selling 2,445 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Regions Financial were worth $632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RF. Dimensional Fund Advisors LP grew its position in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after buying an additional 979,597 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after acquiring an additional 1,014,706 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Regions Financial by 17.1% during the 2nd quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock worth $59,421,000 after acquiring an additional 433,319 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Regions Financial by 12.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 2,343,629 shares of the bank’s stock valued at $46,966,000 after purchasing an additional 266,934 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of Regions Financial by 6.3% in the 3rd quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after purchasing an additional 102,380 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Down 0.1 %

Shares of NYSE:RF opened at $26.33 on Tuesday. Regions Financial Co. has a fifty-two week low of $15.79 and a fifty-two week high of $26.73. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The firm’s 50-day simple moving average is $23.61 and its 200-day simple moving average is $21.61. The company has a market cap of $23.93 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 2.76 and a beta of 1.16.

Regions Financial (NYSE:RF) last released its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. As a group, equities research analysts predict that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is 56.50%.

Analyst Upgrades and Downgrades

RF has been the topic of several recent analyst reports. Wedbush increased their target price on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Wells Fargo & Company increased their price objective on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup boosted their target price on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and upped their price target for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Finally, Morgan Stanley raised their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Regions Financial currently has an average rating of “Moderate Buy” and a consensus target price of $26.18.

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.