Illinois Municipal Retirement Fund Has $8.91 Million Holdings in Regions Financial Co. (NYSE:RF)

Illinois Municipal Retirement Fund increased its stake in Regions Financial Co. (NYSE:RF) by 1,310.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 378,781 shares of the bank’s stock after buying an additional 351,935 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Regions Financial were worth $8,909,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Y.D. More Investments Ltd boosted its holdings in shares of Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after buying an additional 634 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial in the 4th quarter valued at approximately $28,000. Truvestments Capital LLC acquired a new stake in shares of Regions Financial in the 3rd quarter valued at approximately $37,000. Legacy Investment Solutions LLC acquired a new stake in shares of Regions Financial in the 3rd quarter valued at approximately $37,000. Finally, Quarry LP boosted its holdings in shares of Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after buying an additional 394 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Down 0.2 %

RF stock opened at $23.40 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The stock has a market capitalization of $21.26 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.93 and a beta of 1.20. The business’s fifty day moving average price is $24.08 and its two-hundred day moving average price is $23.96.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned $0.39 earnings per share. Regions Financial’s revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Monday, March 3rd. Regions Financial’s payout ratio is currently 51.55%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RF. Barclays increased their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Citigroup raised their price target on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a report on Tuesday, October 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, The Goldman Sachs Group raised their price target on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial 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.