New York State Teachers Retirement System Sells 124,261 Shares of Regions Financial Corporation (NYSE:RF)

New York State Teachers Retirement System lowered its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 15.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 699,987 shares of the bank's stock after selling 124,261 shares during the period. New York State Teachers Retirement System owned about 0.08% of Regions Financial worth $15,211,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RF. Picton Mahoney Asset Management boosted its holdings in shares of Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after purchasing an additional 1,201 shares during the period. Millstone Evans Group LLC bought a new position in Regions Financial during the 4th quarter valued at approximately $32,000. Grove Bank & Trust raised its position in Regions Financial by 76.6% during the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after purchasing an additional 814 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Regions Financial by 181.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after buying an additional 2,078 shares during the period. Finally, Proathlete Wealth Management LLC bought a new stake in shares of Regions Financial in the 1st quarter worth approximately $77,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Trading Up 1.7%

NYSE:RF opened at $24.57 on Thursday. The company has a market cap of $22.09 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.36. The company has a 50 day simple moving average of $21.83 and a two-hundred day simple moving average of $22.36. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. Research analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.07%. The ex-dividend date was Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.

Analyst Ratings Changes

A number of equities analysts recently commented on RF shares. Keefe, Bruyette & Woods decreased their target price on Regions Financial from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Citigroup lifted their target price on shares of Regions Financial from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Wednesday. Truist Financial reiterated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Finally, Barclays lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of "Hold" and an average price target of $25.90.

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.

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