Strs Ohio Has $6.53 Million Holdings in Regions Financial Corporation $RF

Strs Ohio lowered its holdings in Regions Financial Corporation (NYSE:RF) by 20.0% in the third quarter, HoldingsChannel.com reports. The firm owned 247,482 shares of the bank’s stock after selling 61,809 shares during the quarter. Strs Ohio’s holdings in Regions Financial were worth $6,526,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. CVA Family Office LLC boosted its stake in shares of Regions Financial by 163.2% in the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after buying an additional 656 shares during the period. Darwin Wealth Management LLC bought a new position in Regions Financial during the 2nd quarter worth $25,000. FNY Investment Advisers LLC acquired a new position in Regions Financial in the 2nd quarter valued at $30,000. Catalyst Capital Advisors LLC bought a new stake in shares of Regions Financial during the 2nd quarter valued at $32,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of Regions Financial during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the sale, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. This trade represents a 67.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen restated a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $31.00 price objective on shares of Regions Financial in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $32.00 price target on shares of Regions Financial in a research report on Tuesday, January 6th. Finally, Morgan Stanley set a $31.00 price objective on shares of Regions Financial in a research note on Monday, January 19th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and an average target price of $29.27.

Regions Financial Trading Up 1.0%

RF opened at $27.76 on Tuesday. The company has a market cap of $24.34 billion, a P/E ratio of 12.12, a PEG ratio of 0.98 and a beta of 1.03. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $27.06 and its 200-day moving average is $26.13. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $29.25.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. Regions Financial’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 EPS. Equities research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial declared that its board has approved a stock repurchase plan on Wednesday, December 10th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the bank to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.