Regions Financial Corporation $RF Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Regions Financial Corporation (NYSE:RF) by 63.2% in the third quarter, HoldingsChannel.com reports. The fund owned 1,407,163 shares of the bank’s stock after buying an additional 544,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Regions Financial were worth $37,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of RF. State Street Corp grew its holdings in Regions Financial by 6.2% during the second quarter. State Street Corp now owns 50,667,092 shares of the bank’s stock worth $1,543,092,000 after purchasing an additional 2,953,594 shares during the period. First Trust Advisors LP raised its stake in Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after buying an additional 5,754,487 shares during the period. Dimensional Fund Advisors LP raised its stake in Regions Financial by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 9,827,358 shares of the bank’s stock valued at $256,633,000 after buying an additional 140,398 shares during the period. Nykredit A S acquired a new stake in shares of Regions Financial in the second quarter valued at approximately $236,756,000. Finally, Bank of America Corp DE acquired a new stake in shares of Regions Financial in the second quarter valued at approximately $219,068,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $28.59 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.17 and a beta of 1.05. Regions Financial Corporation has a twelve month low of $23.59 and a twelve month high of $32.47. The company has a 50-day simple moving average of $28.53 and a two-hundred day simple moving average of $28.68.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, October 16th. The bank reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. Regions Financial had a net margin of 23.97% and a return on equity of 13.43%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Regions Financial Corporation will post 2.70 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Tuesday, December 1st. Regions Financial’s dividend payout ratio is presently 47.06%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial reduced their target price on Regions Financial from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, October 20th. Citigroup dropped their price target on Regions Financial from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a report on Thursday, October 15th. Stephens reaffirmed an “outperform” rating on shares of Regions Financial in a research report on Monday, October 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $32.00 price objective on shares of Regions Financial in a research report on Wednesday, October 21st. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.00.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.