Regions Financial Corporation (NYSE:RF) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama raised its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 614.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,405,319 shares of the bank's stock after acquiring an additional 1,208,541 shares during the quarter. Retirement Systems of Alabama owned 0.16% of Regions Financial worth $30,538,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its holdings in Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock valued at $29,000 after acquiring an additional 1,201 shares during the period. Millstone Evans Group LLC acquired a new stake in Regions Financial in the fourth quarter valued at $32,000. Grove Bank & Trust lifted its holdings in Regions Financial by 76.6% in the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after acquiring an additional 814 shares during the period. Allworth Financial LP raised its stake in shares of Regions Financial by 36.4% during the 4th quarter. Allworth Financial LP now owns 2,560 shares of the bank's stock worth $62,000 after buying an additional 683 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of Regions Financial by 181.2% during 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 last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Up 1.0%

RF opened at $22.18 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $19.94 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96. The business has a 50-day moving average of $21.18 and a two-hundred day moving average of $22.48. 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 posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. During the same quarter in the previous year, the business earned $0.37 EPS. On average, research analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) is 48.08%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley cut their price target on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their price target on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group cut their price target on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Cowen assumed coverage on Regions Financial in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Finally, Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a research note on Sunday, June 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Regions Financial presently has an average rating of "Moderate Buy" and a consensus target price of $25.80.

About Regions Financial

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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