California State Teachers Retirement System Purchases 54,309 Shares of Regions Financial Co. (NYSE:RF)

California State Teachers Retirement System boosted its position in Regions Financial Co. (NYSE:RF) by 3.3% in the first quarter, HoldingsChannel.com reports. The firm owned 1,716,488 shares of the bank’s stock after acquiring an additional 54,309 shares during the period. California State Teachers Retirement System’s holdings in Regions Financial were worth $36,115,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Regions Financial in the first quarter worth about $26,000. Laurel Wealth Advisors LLC grew its stake in shares of Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after acquiring an additional 649 shares during the last quarter. MV Capital Management Inc. grew its stake in shares of Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Regions Financial during the fourth quarter worth about $28,000. Finally, Glassman Wealth Services grew its stake in shares of Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after acquiring an additional 967 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RF shares. Citigroup boosted their price target on Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Evercore ISI dropped their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods dropped their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Truist Financial upped their target price on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Finally, Piper Sandler upped their target price on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and a consensus price target of $21.51.

Regions Financial Stock Performance

NYSE:RF traded down $0.37 during trading hours on Wednesday, reaching $22.36. The company had a trading volume of 8,303,211 shares, compared to its average volume of 8,205,993. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $20.46 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 2.88 and a beta of 1.18. The business’s 50 day moving average price is $19.94 and its 200-day moving average price is $19.49. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $22.88.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS. Research analysts forecast that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio is presently 52.17%.

Insider Buying and Selling

In related news, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the sale, the executive vice president now directly owns 41,671 shares in the company, valued at approximately $831,336.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

Regions Financial Company 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.