Maryland State Retirement & Pension System Cuts Stake in Regions Financial Co. (NYSE:RF)

Maryland State Retirement & Pension System reduced its holdings in shares of Regions Financial Co. (NYSE:RF) by 3.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 50,851 shares of the bank’s stock after selling 1,585 shares during the period. Maryland State Retirement & Pension System’s holdings in Regions Financial were worth $1,196,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in Regions Financial by 20.0% during the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after buying an additional 253,708 shares during the period. LBP AM SA increased its stake in Regions Financial by 149.4% during the 4th quarter. LBP AM SA now owns 730,614 shares of the bank’s stock worth $17,184,000 after buying an additional 437,691 shares during the period. Aigen Investment Management LP purchased a new stake in Regions Financial during the 4th quarter worth approximately $1,965,000. Aprio Wealth Management LLC acquired a new position in Regions Financial during the 4th quarter worth approximately $1,247,000. Finally, Nordea Investment Management AB grew its holdings in Regions Financial by 60.4% during the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after acquiring an additional 99,115 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Down 0.0 %

Shares of Regions Financial stock opened at $21.68 on Friday. The company has a market cap of $19.63 billion, a P/E ratio of 11.17, a PEG ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The firm has a fifty day moving average of $23.46 and a two-hundred day moving average of $23.95.

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

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.61%. Regions Financial’s payout ratio is currently 51.55%.

Analysts Set New Price Targets

RF has been the subject of several analyst reports. Morgan Stanley reiterated 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. The Goldman Sachs Group boosted their price target on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Compass Point boosted their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Piper Sandler boosted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Truist Financial lowered their target price on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.44.

Insiders Place Their Bets

In related news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. This trade represents a 15.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders bought 3,993 shares of company stock worth $89,682. 0.29% of the stock is owned by insiders.

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.