Regions Financial Co. (NYSE:RF) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in Regions Financial Co. (NYSE:RF - Free Report) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 766,144 shares of the bank's stock after selling 116,861 shares during the period. New York State Common Retirement Fund owned about 0.08% of Regions Financial worth $14,848,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Whittier Trust Co. increased its stake in shares of Regions Financial by 16.5% during the fourth quarter. Whittier Trust Co. now owns 3,881 shares of the bank's stock valued at $75,000 after buying an additional 549 shares during the period. Pinnacle Financial Partners Inc grew its stake in Regions Financial by 0.4% in the fourth quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank's stock worth $2,797,000 after purchasing an additional 606 shares during the period. SG Americas Securities LLC grew its stake in Regions Financial by 2.6% in the fourth quarter. SG Americas Securities LLC now owns 25,569 shares of the bank's stock worth $496,000 after purchasing an additional 654 shares during the period. Bangor Savings Bank grew its stake in Regions Financial by 1.5% in the fourth quarter. Bangor Savings Bank now owns 45,952 shares of the bank's stock worth $891,000 after purchasing an additional 667 shares during the period. Finally, Perigon Wealth Management LLC grew its stake in Regions Financial by 3.7% in the fourth quarter. Perigon Wealth Management LLC now owns 20,029 shares of the bank's stock worth $388,000 after purchasing an additional 709 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of RF stock traded down $0.42 during trading hours on Tuesday, reaching $19.26. 5,531,902 shares of the company traded hands, compared to its average volume of 8,699,931. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $17.69 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.43 and a beta of 1.21. The firm has a 50-day moving average price of $19.46 and a 200 day moving average price of $18.14.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.75 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm's quarterly revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts predict that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.99%. The ex-dividend date is Friday, May 31st. Regions Financial's dividend payout ratio (DPR) is presently 52.17%.

Insider Activity at Regions Financial

In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, with a total value of $968,500.00. Following the purchase, the director now owns 50,000 shares of the company's stock, valued at $968,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RF has been the topic of several recent research reports. Stephens reaffirmed an "equal weight" rating and issued a $21.00 price target on shares of Regions Financial in a research note on Tuesday, January 23rd. Piper Sandler boosted their target price on Regions Financial from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday. Evercore ISI boosted their target price on Regions Financial from $20.00 to $22.00 and gave the stock an "in-line" rating in a report on Thursday, March 28th. Argus downgraded Regions Financial from a "buy" rating to a "hold" rating in a report on Tuesday, January 23rd. Finally, Morgan Stanley dropped their target price on Regions Financial from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Regions Financial has an average rating of "Hold" and an average target price of $20.34.

About Regions Financial

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.