Kentucky Retirement Systems Insurance Trust Fund Reduces Stake in Regions Financial Co. (NYSE:RF)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Regions Financial Co. (NYSE:RF) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,094 shares of the bank’s stock after selling 2,445 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Regions Financial were worth $632,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RF. Bessemer Group Inc. boosted its stake in shares of Regions Financial by 281.7% during the 1st quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after purchasing an additional 58,739 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in shares of Regions Financial by 1,075.7% during the first quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock valued at $942,000 after buying an additional 40,972 shares during the period. Swedbank AB acquired a new stake in Regions Financial during the first quarter worth approximately $19,322,000. National Pension Service boosted its position in Regions Financial by 6.3% during the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after acquiring an additional 102,380 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Regions Financial by 47.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 275,757 shares of the bank’s stock worth $5,666,000 after acquiring an additional 89,045 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 0.1 %

Shares of NYSE:RF opened at $26.33 on Tuesday. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16. The company has a 50 day moving average of $23.61 and a two-hundred day moving average of $21.61. Regions Financial Co. has a 52-week low of $15.79 and a 52-week high of $26.73. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF) last released its quarterly 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 net margin of 18.78% and a return on equity of 12.60%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business posted $0.49 earnings per share. Regions Financial’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, analysts forecast that Regions Financial Co. will post 2.1 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Analyst Ratings Changes

RF has been the topic of several analyst reports. Evercore ISI raised their price objective on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. 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. Truist Financial upped their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bank of America raised their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Barclays boosted their target price on shares of Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.18.

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.