VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 52,100 Shares of Regions Financial Corporation $RF

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al increased its Regions Financial stake by 5.7% in the fourth quarter, buying 52,100 shares and lifting its holdings to 971,863 shares worth about $26.3 million.
• Analyst sentiment on Regions Financial (NYSE: RF) is mixed: the stock has a consensus rating of Hold with a consensus target price of $30.12, while recent actions ranged from an upgrade-like “outperform” rating to an “underweight” downgrade.
• The company reported Q1 earnings of $0.62 per share, edging past estimates, and announced a quarterly dividend of $0.265 per share to be paid July 1, implying a 4.0% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 971,863 shares of the bank's stock after acquiring an additional 52,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.11% of Regions Financial worth $26,337,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. AG2R LA Mondiale Gestion D Actifs bought a new stake in Regions Financial during the 4th quarter worth approximately $1,037,000. Valeo Financial Advisors LLC grew its holdings in Regions Financial by 6.7% during the 4th quarter. Valeo Financial Advisors LLC now owns 20,561 shares of the bank's stock worth $557,000 after acquiring an additional 1,295 shares during the last quarter. SVB Wealth LLC grew its holdings in Regions Financial by 8.7% during the 4th quarter. SVB Wealth LLC now owns 161,131 shares of the bank's stock worth $4,367,000 after acquiring an additional 12,904 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in Regions Financial by 244.4% during the 4th quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank's stock worth $61,135,000 after acquiring an additional 1,600,926 shares during the last quarter. Finally, Advisor OS LLC bought a new stake in Regions Financial during the 4th quarter worth approximately $314,000. 79.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

RF has been the topic of a number of research reports. Brean Capital initiated coverage on shares of Regions Financial in a report on Thursday, March 12th. They set a "neutral" rating on the stock. Royal Bank Of Canada boosted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Wells Fargo & Company lowered shares of Regions Financial from an "equal weight" rating to an "underweight" rating and set a $30.00 target price on the stock. in a report on Friday, January 16th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $31.00 target price on shares of Regions Financial in a report on Tuesday, January 20th. Finally, Piper Sandler reduced their target price on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating on the stock in a report on Monday, March 30th. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $30.12.

Insider Activity at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.34% of the company's stock.

Regions Financial Trading Down 1.9%

NYSE:RF opened at $26.63 on Thursday. The firm's fifty day moving average is $26.95 and its 200-day moving average is $27.14. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a 52 week low of $20.79 and a 52 week high of $31.53. The firm has a market cap of $22.73 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.06 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the firm posted $0.54 EPS. The company's quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts expect that Regions Financial Corporation will post 2.61 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial's dividend payout ratio is currently 44.17%.

Regions Financial Profile

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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