VIRGINIA RETIREMENT SYSTEMS ET Al Takes $12.67 Million Position in Regions Financial Corporation $RF

Key Points

• Virginia Retirement Systems invested approximately $12.67 million in Regions Financial Corporation by acquiring 538,763 shares in the 2nd quarter.
• Regions Financial recently announced a quarterly dividend of $0.265 per share, representing a yield of 4.5%.
• Despite executive stock sales, analysts maintain a consensus rating of "Moderate Buy" for Regions Financial, with price targets ranging from $27.79 to $32.00.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Regions Financial Corporation (NYSE:RF - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 538,763 shares of the bank's stock, valued at approximately $12,672,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.06% of Regions Financial at the end of the most recent quarter.

Several other large investors have also modified their holdings of RF. American National Bank & Trust boosted its holdings in shares of Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank's stock valued at $25,000 after buying an additional 1,022 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in shares of Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after buying an additional 1,058 shares in the last quarter. Rossby Financial LCC acquired a new position in shares of Regions Financial in the 1st quarter valued at $36,000. Groupe la Francaise acquired a new position in shares of Regions Financial in the 1st quarter valued at $41,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Regions Financial in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Up 0.8%

Shares of Regions Financial stock opened at $23.54 on Monday. The company has a market cap of $21.00 billion, a P/E ratio of 10.37, a PEG ratio of 1.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82. Regions Financial Corporation has a one year low of $17.74 and a one year high of $27.96. The firm has a fifty day moving average of $26.23 and a two-hundred day moving average of $23.71.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. The company had revenue of $1.81 billion during the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. On average, analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.265 per share. The ex-dividend date is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a yield of 4.5%. Regions Financial's dividend payout ratio is presently 49.30%.

Wall Street Analyst Weigh In

RF has been the subject of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Wall Street Zen upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Evercore ISI upped their price target on shares of Regions Financial from $28.00 to $29.00 and gave the company an "in-line" rating in a research report on Tuesday, September 30th. Cantor Fitzgerald initiated coverage on shares of Regions Financial in a research report on Wednesday, September 10th. They issued an "overweight" rating and a $30.00 price target for the company. Finally, Morgan Stanley set a $32.00 price target on shares of Regions Financial in a research report on Monday, September 29th. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial currently has a consensus rating of "Moderate Buy" and an average price target of $27.79.

Insider Transactions at Regions Financial

In other news, EVP David R. Keenan sold 30,000 shares of the 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 transaction, the executive vice president owned 90,915 shares in the company, valued at $2,273,784.15. This trade represents a 24.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger W. Jenkins purchased 4,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $25.48 per share, with a total value of $101,920.00. Following the acquisition, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. This represents a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

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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