Retirement Systems of Alabama Trims Position in Regions Financial Co. (NYSE:RF)

Retirement Systems of Alabama lessened its stake in Regions Financial Co. (NYSE:RF - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,546,079 shares of the bank's stock after selling 58,599 shares during the quarter. Retirement Systems of Alabama owned about 0.27% of Regions Financial worth $49,343,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RF. Advisor Resource Council acquired a new position in Regions Financial during the fourth quarter worth about $1,944,000. Vestmark Advisory Solutions Inc. raised its stake in Regions Financial by 126.3% during the third quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank's stock worth $455,000 after acquiring an additional 14,756 shares in the last quarter. abrdn plc raised its stake in Regions Financial by 17.0% during the fourth quarter. abrdn plc now owns 2,350,151 shares of the bank's stock worth $45,546,000 after acquiring an additional 341,878 shares in the last quarter. LPL Financial LLC increased its stake in shares of Regions Financial by 19.6% in the third quarter. LPL Financial LLC now owns 582,491 shares of the bank's stock valued at $10,019,000 after buying an additional 95,271 shares during the period. Finally, Vaughan David Investments LLC IL raised its holdings in Regions Financial by 48.9% in the 4th quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank's stock valued at $47,886,000 after buying an additional 811,174 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Trading Up 0.2 %

Shares of RF stock traded up $0.04 during trading hours on Monday, hitting $19.66. 4,540,190 shares of the company were exchanged, compared to its average volume of 8,738,567. The company has a 50 day simple moving average of $19.46 and a two-hundred day simple moving average of $18.14. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $18.06 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.43 and a beta of 1.21.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the business posted $0.62 EPS. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts anticipate that Regions Financial Co. will post 1.95 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial's payout ratio is currently 52.17%.

Insider Activity at Regions Financial

In other Regions Financial news, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average price of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $968,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RF. Argus lowered shares of Regions Financial from a "buy" rating to a "hold" rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Regions Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a report on Friday, April 5th. Royal Bank of Canada raised their price objective on shares of Regions Financial from $19.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, January 22nd. Piper Sandler raised their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Friday. Finally, StockNews.com lowered shares of Regions Financial from a "hold" rating to a "sell" rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of "Hold" and a consensus price target of $20.34.

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.