Strs Ohio Purchases 179,362 Shares of Regions Financial Corporation $RF

Strs Ohio grew its position in Regions Financial Corporation (NYSE:RF) by 29.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 796,047 shares of the bank’s stock after buying an additional 179,362 shares during the quarter. Strs Ohio’s holdings in Regions Financial were worth $20,793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RF. Charles Schwab Investment Management Inc. raised its holdings in shares of Regions Financial by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after acquiring an additional 215,061 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after acquiring an additional 9,312,449 shares in the last quarter. Invesco Ltd. grew its holdings in Regions Financial by 3.1% during the 4th quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock worth $524,337,000 after acquiring an additional 573,659 shares in the last quarter. Morgan Stanley increased its position in Regions Financial by 1.3% during the 4th quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock valued at $497,459,000 after purchasing an additional 231,924 shares during the period. Finally, Norges Bank purchased a new position in Regions Financial during the 4th quarter valued at about $254,564,000. Institutional investors own 79.39% of the company’s stock.

Insider Transactions at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Regions Financial Stock Performance

RF stock opened at $30.29 on Friday. Regions Financial Corporation has a one year low of $22.70 and a one year high of $31.53. The firm has a market cap of $25.84 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50-day simple moving average of $28.38 and a two-hundred day simple moving average of $28.00.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. On average, equities analysts forecast that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, June 1st. Regions Financial’s payout ratio is currently 44.17%.

Wall Street Analyst Weigh In

RF has been the subject of several research reports. JPMorgan Chase & Co. lowered their price target on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Piper Sandler cut their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, March 30th. Morgan Stanley boosted their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Royal Bank Of Canada increased their target price on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, Brean Capital started coverage on Regions Financial in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.80.

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.