California State Teachers Retirement System Increases Position in Regions Financial Corporation $RF

Key Points

• California State Teachers Retirement System increased its Regions Financial stake by 2,881.1% in the second quarter, reaching 37.0 million shares worth approximately $1.23 billion, or 4.34% of the company. Institutional investors collectively own 79.39% of Regions Financial.
• Regions Financial reported quarterly earnings of $0.68 per share, exceeding the $0.63 consensus estimate, while revenue reached $1.95 billion. Analysts expect full-year EPS of $2.63.
• The bank raised its quarterly dividend from $0.27 to $0.30 per share, representing a 4.0% annualized yield. Despite several price-target increases, analysts maintain a consensus “Hold” rating with a $32.29 target.

California State Teachers Retirement System raised its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 2,881.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,003,849 shares of the bank's stock after buying an additional 35,762,549 shares during the period. California State Teachers Retirement System owned about 4.34% of Regions Financial worth $1,225,293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WPG Advisers LLC lifted its stake in Regions Financial by 83.5% in the second quarter. WPG Advisers LLC now owns 813 shares of the bank's stock valued at $25,000 after buying an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new position in Regions Financial during the 2nd quarter worth approximately $25,000. Darwin Wealth Management LLC purchased a new position in Regions Financial in the second quarter worth $25,000. Trust Co. of Vermont acquired a new stake in shares of Regions Financial in the second quarter valued at about $26,000. Finally, SouthState Bank Corp lifted its position in shares of Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock valued at $30,000 after acquiring an additional 538 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Price Performance

RF opened at $30.14 on Friday. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The firm has a market cap of $25.68 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.23 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $30.87 and a 200 day simple moving average of $28.81.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company's revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This is a boost from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. Regions Financial's dividend payout ratio (DPR) is currently 48.98%.

Analyst Upgrades and Downgrades

RF has been the subject of several research reports. Robert W. Baird reaffirmed an "underperform" rating and set a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. DA Davidson raised their price objective on Regions Financial from $33.00 to $34.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Cantor Fitzgerald boosted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Stephens assumed coverage on Regions Financial in a report on Monday, June 15th. They set an "equal weight" rating and a $31.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on Regions Financial from $31.50 to $32.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $32.29.

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 consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.

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