Kentucky Retirement Systems Cuts Stock Holdings in Regions Financial Co. (NYSE:RF)

Kentucky Retirement Systems trimmed its stake in shares of Regions Financial Co. (NYSE:RF) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 62,886 shares of the bank’s stock after selling 867 shares during the period. Kentucky Retirement Systems’ holdings in Regions Financial were worth $1,479,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. AMF Tjanstepension AB bought a new position in Regions Financial during the third quarter valued at $6,281,000. Sequoia Financial Advisors LLC lifted its position in Regions Financial by 2.8% during the third quarter. Sequoia Financial Advisors LLC now owns 20,267 shares of the bank’s stock valued at $473,000 after purchasing an additional 545 shares during the last quarter. Private Advisor Group LLC lifted its position in Regions Financial by 1.8% during the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after purchasing an additional 429 shares during the last quarter. International Assets Investment Management LLC lifted its position in Regions Financial by 2,128.2% during the third quarter. International Assets Investment Management LLC now owns 98,797 shares of the bank’s stock valued at $2,305,000 after purchasing an additional 94,363 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Regions Financial by 2.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 21,086 shares of the bank’s stock valued at $492,000 after purchasing an additional 560 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Down 2.8 %

RF stock opened at $23.39 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market capitalization of $21.26 billion, a PE ratio of 12.06, a P/E/G ratio of 1.93 and a beta of 1.20. The firm’s 50-day moving average is $24.11 and its 200 day moving average is $23.95. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. On average, research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Wall Street Analyst Weigh In

Several equities analysts have commented on RF shares. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. Truist Financial increased their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Barclays raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, The Goldman Sachs Group raised their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

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.