California State Teachers Retirement System reduced its holdings in shares of Regions Financial Corporation (NYSE:RF – Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,241,300 shares of the bank’s stock after selling 38,062 shares during the period. California State Teachers Retirement System’s holdings in Regions Financial were worth $32,423,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in RF. Darwin Wealth Management LLC acquired a new position in Regions Financial in the second quarter worth about $25,000. SouthState Bank Corp lifted its stake in Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after purchasing an additional 538 shares during the period. Spire Wealth Management boosted its holdings in Regions Financial by 91.5% during the fourth 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 boosted its holdings in Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after purchasing an additional 854 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Regions Financial in the 4th quarter valued at approximately $33,000. Institutional investors own 79.39% of the company’s stock.
Regions Financial Price Performance
Shares of Regions Financial stock opened at $31.01 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $26.46 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.18 and a beta of 1.00. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The firm’s 50-day moving average price is $29.71 and its two-hundred day moving average price is $28.45.
Regions Financial Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is 43.27%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on RF. Wells Fargo & Company increased their target price on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Evercore reaffirmed an “underperform” rating and issued a $31.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target on shares of Regions Financial in a research report on Friday, July 17th. Stephens assumed coverage on Regions Financial in a research report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price target on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 price objective on shares of Regions Financial in a research note on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.24.
Read Our Latest Analysis on Regions Financial
Insiders Place Their Bets
In related news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was 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 Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by corporate insiders.
About Regions Financial
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.
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