New York State Teachers Retirement System Raises Stock Position in Regions Financial Corporation $RF

New York State Teachers Retirement System lifted its position in Regions Financial Corporation (NYSE:RF) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 790,064 shares of the bank’s stock after buying an additional 33,099 shares during the quarter. New York State Teachers Retirement System’s holdings in Regions Financial were worth $21,411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RF. Victory Capital Management Inc. grew its position in shares of Regions Financial by 52.9% in the 3rd quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock worth $357,417,000 after buying an additional 4,679,285 shares during the last quarter. Qube Research & Technologies Ltd grew its position in Regions Financial by 286.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock worth $106,061,000 after purchasing an additional 2,980,505 shares during the last quarter. AQR Capital Management LLC grew its position in Regions Financial by 151.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock worth $103,886,000 after purchasing an additional 2,371,048 shares during the last quarter. American Century Companies Inc. grew its position in Regions Financial by 85.9% during the 3rd quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock worth $121,976,000 after purchasing an additional 2,137,062 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Regions Financial during the 3rd quarter worth approximately $54,349,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

RF opened at $28.21 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a fifty day moving average price of $27.13 and a 200 day moving average price of $26.96. Regions Financial Corporation has a 1 year low of $20.55 and a 1 year high of $31.53. The stock has a market cap of $24.36 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.10 and a beta of 1.02.

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

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, June 1st. Regions Financial’s payout ratio is currently 44.17%.

Analysts Set New Price Targets

RF has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Brean Capital initiated coverage on shares of Regions Financial in a research report on Thursday, March 12th. They set a “neutral” rating on the stock. Wells Fargo & Company downgraded 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 research report on Friday, January 16th. Evercore downgraded shares of Regions Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $27.00 to $29.00 in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, January 6th. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.12.

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.