Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 5,962 Shares of Regions Financial Co. (NYSE:RF)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of Regions Financial Co. (NYSE:RF) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 193,252 shares of the bank’s stock after selling 5,962 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Regions Financial were worth $4,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its stake in shares of Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after purchasing an additional 1,396,647 shares in the last quarter. Geode Capital Management LLC lifted its position in Regions Financial by 1.4% during the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after acquiring an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Regions Financial by 1.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock valued at $203,273,000 after acquiring an additional 112,885 shares during the last quarter. Finally, FMR LLC lifted its position in Regions Financial by 8.4% during the third quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock valued at $72,548,000 after acquiring an additional 241,838 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Compass Point increased their target price on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Truist Financial decreased their target price on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Friday. Finally, Morgan Stanley reissued an “equal weight” rating and set a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.44.

Regions Financial Stock Down 0.0 %

NYSE:RF opened at $21.68 on Monday. The firm has a market capitalization of $19.63 billion, a P/E ratio of 11.17, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The company’s fifty day moving average price is $23.46 and its 200-day moving average price is $23.96. 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 (NYSE:RF) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. As a group, equities research analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The company 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 dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 4.61%. Regions Financial’s dividend payout ratio is presently 51.55%.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have bought 3,993 shares of company stock worth $89,682. 0.29% of the stock is owned by company 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.