California Public Employees Retirement System Sells 128,481 Shares of Regions Financial Co. (NYSE:RF)

California Public Employees Retirement System lessened its holdings in Regions Financial Co. (NYSE:RF) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,542,616 shares of the bank’s stock after selling 128,481 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Regions Financial worth $36,282,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in Regions Financial during the fourth quarter valued at approximately $125,000. Schroder Investment Management Group increased its position in shares of Regions Financial by 21.1% during the 4th quarter. Schroder Investment Management Group now owns 1,128,242 shares of the bank’s stock valued at $26,694,000 after purchasing an additional 196,328 shares during the last quarter. MV Capital Management Inc. raised its holdings in Regions Financial by 158.0% during the 4th quarter. MV Capital Management Inc. now owns 3,782 shares of the bank’s stock valued at $89,000 after buying an additional 2,316 shares during the period. Allstate Corp bought a new stake in Regions Financial in the fourth quarter worth $641,000. Finally, Orion Portfolio Solutions LLC boosted its stake in Regions Financial by 149.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 22,419 shares of the bank’s stock worth $527,000 after buying an additional 13,423 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RF. Compass Point increased their target price on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Truist Financial decreased their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Citigroup decreased their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Barclays upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.17.

Insider Buying and Selling

In related news, Director Joia M. Johnson acquired 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. This trade represents a 15.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 3,868 shares of company stock worth $86,722 in the last ninety days. 0.29% of the stock is owned by insiders.

Regions Financial Trading Up 2.1 %

Shares of NYSE RF opened at $22.03 on Thursday. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The business has a fifty day moving average price of $23.09 and a 200 day moving average price of $23.93. The stock has a market capitalization of $19.95 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. Regions Financial’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. Equities research analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.54%. Regions Financial’s payout ratio is 51.55%.

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.