Strs Ohio Invests $6.72 Million in Regions Financial Corporation $RF

Key Points

• Strs Ohio has made a significant investment in Regions Financial Corporation, acquiring 309,083 shares valued at approximately $6.72 million during the first quarter.
• Regions Financial's recent quarterly earnings report showed an EPS of $0.60, surpassing analysts' expectations, and a revenue increase of 10.1% year-over-year.
• The company declared a quarterly dividend of $0.265, a raise from the previous dividend, resulting in an annualized yield of 3.9%.

Strs Ohio acquired a new position in Regions Financial Corporation (NYSE:RF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 309,083 shares of the bank's stock, valued at approximately $6,716,000.

A number of other institutional investors have also bought and sold shares of RF. Bayforest Capital Ltd increased its stake in Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after buying an additional 1,058 shares in the last quarter. Rossby Financial LCC purchased a new stake in Regions Financial in the 1st quarter worth $36,000. Grove Bank & Trust increased its stake in Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after buying an additional 814 shares in the last quarter. Groupe la Francaise purchased a new stake in Regions Financial in the 1st quarter worth $41,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in Regions Financial in the 1st quarter worth $58,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Up 0.6%

Shares of NYSE:RF opened at $27.19 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The company has a 50-day moving average price of $25.91 and a 200 day moving average price of $22.99. The company has a market cap of $24.26 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.56 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $0.52 EPS. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's payout ratio is 49.30%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RF. Jefferies Financial Group began coverage on Regions Financial in a research note on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target for the company. Wall Street Zen upgraded Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Barclays reissued an "underweight" rating and set a $27.00 price objective (up previously from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Stephens increased their price objective on shares of Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Truist Financial reissued a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.47.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the sale, the executive vice president owned 90,915 shares of the company's stock, valued at $2,273,784.15. This trade represents a 24.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roger W. Jenkins acquired 4,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of $25.48 per share, with a total value of $101,920.00. Following the purchase, the director owned 6,383 shares of the company's stock, valued at $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

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.

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