Teachers Retirement System of The State of Kentucky Sells 4,763 Shares of Regions Financial Co. (NYSE:RF)

Teachers Retirement System of The State of Kentucky lowered its position in shares of Regions Financial Co. (NYSE:RF) by 6.5% during the third quarter, HoldingsChannel.com reports. The fund owned 68,886 shares of the bank’s stock after selling 4,763 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Regions Financial were worth $1,607,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Toronto Dominion Bank grew its position in shares of Regions Financial by 69.6% during the 3rd quarter. Toronto Dominion Bank now owns 452,254 shares of the bank’s stock worth $10,551,000 after buying an additional 185,520 shares during the period. Coldstream Capital Management Inc. grew its holdings in Regions Financial by 5.0% in the third quarter. Coldstream Capital Management Inc. now owns 137,812 shares of the bank’s stock worth $3,222,000 after purchasing an additional 6,602 shares during the period. Geode Capital Management LLC increased its stake in Regions Financial by 1.4% in the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after purchasing an additional 315,605 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Regions Financial by 2.6% during the third quarter. Public Employees Retirement System of Ohio now owns 359,381 shares of the bank’s stock valued at $8,384,000 after purchasing an additional 9,047 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Regions Financial by 1.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 274,779 shares of the bank’s stock worth $6,411,000 after purchasing an additional 2,751 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on RF. DA Davidson upped their price target on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. Wells Fargo & Company upped their price objective on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Finally, Citigroup lifted their price objective on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.61.

Regions Financial Price Performance

Shares of NYSE RF opened at $24.60 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $25.20 and a two-hundred day simple moving average of $22.64. Regions Financial Co. has a 1-year low of $17.42 and a 1-year high of $27.96. The firm has a market cap of $22.36 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 2.64 and a beta of 1.19.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. Analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

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.