Teacher Retirement System of Texas Cuts Holdings in Regions Financial Corporation (NYSE:RF)

Teacher Retirement System of Texas trimmed its position in Regions Financial Corporation (NYSE:RF - Free Report) by 68.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,929 shares of the bank's stock after selling 290,856 shares during the period. Teacher Retirement System of Texas' holdings in Regions Financial were worth $2,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RF. Picton Mahoney Asset Management lifted its position in Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock valued at $29,000 after purchasing an additional 1,201 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of Regions Financial during the fourth quarter worth about $32,000. Rossby Financial LCC purchased a new stake in shares of Regions Financial during the first quarter worth about $36,000. Grove Bank & Trust boosted its position in Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after acquiring an additional 814 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted 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 valued at $76,000 after purchasing an additional 2,078 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RF. The Goldman Sachs Group decreased their price objective on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Keefe, Bruyette & Woods dropped their target price on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Regions Financial has a consensus rating of "Moderate Buy" and an average price target of $26.15.

Regions Financial Price Performance

Regions Financial stock opened at $24.67 on Wednesday. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The firm has a fifty day moving average of $22.16 and a 200-day moving average of $22.37. The firm has a market capitalization of $22.18 billion, a P/E ratio of 11.86, a PEG ratio of 1.95 and a beta of 0.98. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.36.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. 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 prior year, the business earned $0.37 earnings per share. As a group, analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, May 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Monday, June 2nd. Regions Financial's payout ratio is 48.08%.

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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