Retirement Systems of Alabama Has $4.64 Million Position in Regions Financial Co. (NYSE:RF)

Retirement Systems of Alabama lessened its holdings in shares of Regions Financial Co. (NYSE:RF) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,890 shares of the bank’s stock after selling 3,134 shares during the quarter. Retirement Systems of Alabama’s holdings in Regions Financial were worth $4,640,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Franklin Resources Inc. increased its position in shares of Regions Financial by 30.9% during the third quarter. Franklin Resources Inc. now owns 702,627 shares of the bank’s stock worth $16,758,000 after acquiring an additional 165,710 shares in the last quarter. Synovus Financial Corp lifted its position in Regions Financial by 55.9% in the 3rd quarter. Synovus Financial Corp now owns 375,572 shares of the bank’s stock valued at $8,762,000 after acquiring an additional 134,615 shares in the last quarter. Tidal Investments LLC boosted its stake in Regions Financial by 2.0% during the 3rd quarter. Tidal Investments LLC now owns 127,326 shares of the bank’s stock valued at $2,971,000 after purchasing an additional 2,531 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Regions Financial during the 3rd quarter worth approximately $56,000. Finally, World Investment Advisors LLC raised its stake in shares of Regions Financial by 14.5% in the third quarter. World Investment Advisors LLC now owns 15,837 shares of the bank’s stock worth $369,000 after purchasing an additional 2,010 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

RF opened at $23.17 on Friday. The firm has a 50-day moving average price of $25.20 and a 200-day moving average price of $22.65. Regions Financial Co. has a twelve month low of $17.42 and a twelve month high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 2.64 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $0.49 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. Equities analysts expect that Regions Financial Co. will post 2.12 EPS for the current 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 issued a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.32%. Regions Financial’s dividend payout ratio (DPR) is 56.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wedbush upped their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Compass Point upped their target price on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Citigroup raised their price target on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. The Goldman Sachs Group upped their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Barclays lifted their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.61.

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.