Texas Permanent School Fund lowered its holdings in shares of Regions Financial Corp (NYSE:RF) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,858 shares of the bank’s stock after selling 9,543 shares during the quarter. Texas Permanent School Fund’s holdings in Regions Financial were worth $2,940,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in RF. Oppenheimer & Co. Inc. raised its position in Regions Financial by 5.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 59,411 shares of the bank’s stock valued at $940,000 after buying an additional 2,925 shares during the last quarter. California Public Employees Retirement System grew its stake in Regions Financial by 5.5% in the third quarter. California Public Employees Retirement System now owns 2,532,894 shares of the bank’s stock valued at $40,070,000 after purchasing an additional 131,131 shares in the last quarter. Usca Ria LLC grew its stake in Regions Financial by 0.9% in the third quarter. Usca Ria LLC now owns 140,679 shares of the bank’s stock valued at $2,226,000 after purchasing an additional 1,245 shares in the last quarter. State of Tennessee Treasury Department grew its stake in Regions Financial by 6.1% in the third quarter. State of Tennessee Treasury Department now owns 247,623 shares of the bank’s stock valued at $3,917,000 after purchasing an additional 14,141 shares in the last quarter. Finally, BB&T Securities LLC grew its stake in Regions Financial by 22.5% in the third quarter. BB&T Securities LLC now owns 408,398 shares of the bank’s stock valued at $6,426,000 after purchasing an additional 74,884 shares in the last quarter. 71.42% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on RF shares. UBS Group raised their price target on Regions Financial from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley set a $16.00 price target on Regions Financial and gave the company a “hold” rating in a research note on Friday, August 9th. SunTrust Banks decreased their price target on Regions Financial from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Raymond James set a $18.50 price target on Regions Financial and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Bank of America downgraded Regions Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $16.00 in a research note on Thursday, July 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $16.74.
Shares of NYSE RF opened at $16.91 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. Regions Financial Corp has a 12 month low of $12.39 and a 12 month high of $17.88. The stock has a 50 day moving average of $15.95 and a 200-day moving average of $15.11. The company has a market capitalization of $17.16 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.57 and a beta of 1.56.
Regions Financial (NYSE:RF) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Regions Financial had a return on equity of 10.88% and a net margin of 23.78%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts predict that Regions Financial Corp will post 1.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.62 annualized dividend and a dividend yield of 3.67%. Regions Financial’s dividend payout ratio is currently 45.59%.
About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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