Kentucky Retirement Systems Cuts Position in Regions Financial Co. (NYSE:RF)

Kentucky Retirement Systems trimmed its position in shares of Regions Financial Co. (NYSE:RF) by 7.6% during the 3rd quarter, Holdings Channel reports. The fund owned 63,753 shares of the bank’s stock after selling 5,260 shares during the period. Kentucky Retirement Systems’ holdings in Regions Financial were worth $1,487,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Finance LLC raised its stake in Regions Financial by 2.1% during the third quarter. Empirical Finance LLC now owns 32,560 shares of the bank’s stock valued at $760,000 after purchasing an additional 669 shares in the last quarter. CIBC Asset Management Inc lifted its position in Regions Financial by 6.8% in the third quarter. CIBC Asset Management Inc now owns 157,600 shares of the bank’s stock worth $3,677,000 after buying an additional 10,026 shares during the last quarter. Chase Investment Counsel Corp boosted its stake in Regions Financial by 5.7% during the third quarter. Chase Investment Counsel Corp now owns 13,551 shares of the bank’s stock worth $316,000 after buying an additional 733 shares during the period. Aptus Capital Advisors LLC increased its position in Regions Financial by 87.1% during the third quarter. Aptus Capital Advisors LLC now owns 67,634 shares of the bank’s stock valued at $1,578,000 after acquiring an additional 31,478 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of Regions Financial by 23.5% in the third quarter. Apollon Wealth Management LLC now owns 20,287 shares of the bank’s stock valued at $473,000 after acquiring an additional 3,863 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RF shares. The Goldman Sachs Group upped their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Truist Financial increased their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $27.00 to $28.00 in a research note on Thursday, October 31st. Bank of America upped their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.18.

Regions Financial Price Performance

Shares of RF opened at $26.33 on Tuesday. The stock has a market capitalization of $23.93 billion, a PE ratio of 14.88, a PEG ratio of 2.76 and a beta of 1.16. The company has a 50 day moving average price of $23.61 and a 200-day moving average price of $21.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a fifty-two week low of $15.79 and a fifty-two week high of $26.73.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Equities analysts predict that Regions Financial Co. will post 2.1 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is currently 56.50%.

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.