Strs Ohio Acquires 179,362 Shares of Regions Financial Corporation $RF

Key Points

• Strs Ohio increased its stake in Regions Financial by 29.1% in the first quarter, buying 179,362 additional shares and bringing its total holding to 796,047 shares worth about $20.8 million.
• Regions Financial reported Q1 earnings of $0.62 per share, edging past analyst estimates, while revenue came in at $1.87 billion versus expectations of $1.92 billion. Revenue still rose 5% from the same quarter last year.
• The bank declared a quarterly dividend of $0.265 per share, or $1.06 annualized, yielding about 3.5%. Analysts currently rate RF a Hold, with a consensus price target of $30.80.

Strs Ohio boosted its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 29.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 796,047 shares of the bank's stock after purchasing an additional 179,362 shares during the quarter. Strs Ohio owned about 0.09% of Regions Financial worth $20,793,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC increased its holdings in shares of Regions Financial by 3.9% in the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank's stock worth $248,000 after buying an additional 346 shares during the last quarter. Master S Wealth Management Inc. lifted its holdings in shares of Regions Financial by 1.0% in the 1st quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank's stock valued at $1,009,000 after acquiring an additional 372 shares during the last quarter. Van ECK Associates Corp grew its position in Regions Financial by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank's stock worth $911,000 after acquiring an additional 373 shares in the last quarter. Lcnb Corp grew its position in Regions Financial by 3.8% in the fourth quarter. Lcnb Corp now owns 10,725 shares of the bank's stock worth $291,000 after acquiring an additional 390 shares in the last quarter. Finally, West Paces Advisors Inc. increased its stake in Regions Financial by 4.0% during the fourth quarter. West Paces Advisors Inc. now owns 10,505 shares of the bank's stock worth $285,000 after acquiring an additional 405 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Price Performance

RF opened at $30.29 on Friday. The business has a fifty day moving average of $28.38 and a 200 day moving average of $28.00. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $31.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock has a market cap of $25.84 billion, a P/E ratio of 12.62, a PEG ratio of 1.15 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The business's revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, June 1st. Regions Financial's dividend payout ratio (DPR) is currently 44.17%.

Insider Buying and Selling

In related news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RF has been the subject of several analyst reports. Brean Capital initiated coverage on Regions Financial in a research note on Thursday, March 12th. They issued a "neutral" rating for the company. Royal Bank Of Canada boosted their target price on Regions Financial from $29.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Morgan Stanley increased their price target on Regions Financial from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Stephens assumed coverage on Regions Financial in a research report on Monday, June 15th. They issued an "equal weight" rating and a $31.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of "Hold" and a consensus price target of $30.80.

About Regions Financial

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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