Illinois Municipal Retirement Fund Sells 310,026 Shares of Regions Financial Co. (NYSE:RF)

Illinois Municipal Retirement Fund lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 92.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,846 shares of the bank’s stock after selling 310,026 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Regions Financial were worth $520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wedge Capital Management L L P NC boosted its position in shares of Regions Financial by 12.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,345,204 shares of the bank’s stock worth $45,450,000 after purchasing an additional 253,339 shares in the last quarter. Greenwich Wealth Management LLC boosted its position in shares of Regions Financial by 0.8% in the 4th quarter. Greenwich Wealth Management LLC now owns 110,512 shares of the bank’s stock worth $2,142,000 after purchasing an additional 867 shares in the last quarter. Cetera Trust Company N.A purchased a new position in Regions Financial in the 4th quarter worth $258,000. CWM LLC lifted its position in Regions Financial by 43.8% during the 4th quarter. CWM LLC now owns 40,581 shares of the bank’s stock worth $786,000 after acquiring an additional 12,364 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Regions Financial by 4.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 134,674 shares of the bank’s stock valued at $2,610,000 after purchasing an additional 5,436 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

NYSE RF opened at $19.26 on Wednesday. The stock’s fifty day moving average is $19.47 and its two-hundred day moving average is $18.16. The firm has a market capitalization of $17.69 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 1.43 and a beta of 1.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. On average, research analysts anticipate that Regions Financial Co. will post 1.95 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Evercore ISI lifted their target price on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Truist Financial reduced their price target on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Piper Sandler boosted their price objective on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.34.

Insider Activity

In other Regions Financial news, Director William C. Rhodes III purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were acquired at an average price of $19.37 per share, with a total value of $968,500.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Regions Financial Company 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.