Regions Financial Corporation $RF Stock Position Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in Regions Financial Corporation (NYSE:RF) by 7.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 728,677 shares of the bank’s stock after selling 61,387 shares during the period. New York State Teachers Retirement System’s holdings in Regions Financial were worth $19,033,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Darwin Wealth Management LLC bought a new stake in Regions Financial in the second quarter worth about $25,000. SouthState Bank Corp boosted its position in shares of Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after purchasing an additional 538 shares in the last quarter. Spire Wealth Management boosted its position in shares of Regions Financial by 91.5% during the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after purchasing an additional 557 shares in the last quarter. Princeton Global Asset Management LLC grew its stake in shares of Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after purchasing an additional 854 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Regions Financial in the 4th quarter worth approximately $33,000. Institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

RF has been the subject of several recent research reports. Brean Capital started coverage on shares of Regions Financial in a research note on Thursday, March 12th. They set a “neutral” rating for the company. Piper Sandler decreased their price target on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. Truist Financial reaffirmed a “hold” rating and issued a $30.00 price target on shares of Regions Financial in a report on Tuesday, April 21st. JPMorgan Chase & Co. cut their price objective on Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Finally, Morgan Stanley raised their price objective on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.80.

Regions Financial Price Performance

NYSE RF opened at $30.29 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial Corporation has a 1 year low of $22.70 and a 1 year high of $31.53. The company has a market cap of $25.84 billion, a PE ratio of 12.62, a PEG ratio of 1.15 and a beta of 1.00. The stock’s 50-day moving average price is $28.38 and its two-hundred day moving average price is $28.00.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.54 earnings per share. On average, analysts predict that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $0.265 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a yield of 3.5%. Regions Financial’s dividend payout ratio (DPR) is currently 44.17%.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Regions Financial Company 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.