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

California Public Employees Retirement System lessened its stake in Regions Financial Co. (NYSE:RF - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,542,616 shares of the bank's stock after selling 128,481 shares during the quarter. California Public Employees Retirement System owned 0.17% of Regions Financial worth $36,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Quarry LP raised its holdings in Regions Financial by 29.5% in the third quarter. Quarry LP now owns 1,729 shares of the bank's stock worth $40,000 after buying an additional 394 shares during the last quarter. Ballentine Partners LLC raised its holdings in Regions Financial by 2.5% in the 4th quarter. Ballentine Partners LLC now owns 17,458 shares of the bank's stock worth $411,000 after acquiring an additional 420 shares during the last quarter. Prossimo Advisors LLC raised its holdings in Regions Financial by 2.3% in the 4th quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank's stock worth $453,000 after acquiring an additional 430 shares during the last quarter. Greenleaf Trust lifted its position in Regions Financial by 1.8% in the 4th quarter. Greenleaf Trust now owns 24,382 shares of the bank's stock valued at $573,000 after acquiring an additional 436 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in Regions Financial by 2.3% during the 4th quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank's stock valued at $456,000 after purchasing an additional 436 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

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Insider Buying and Selling

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders acquired 3,868 shares of company stock worth $86,722. 0.29% of the stock is owned by corporate insiders.

Regions Financial Price Performance

NYSE:RF traded down $0.97 during trading hours on Friday, hitting $18.64. 14,885,113 shares of the stock traded hands, compared to its average volume of 7,879,903. The company has a market cap of $16.88 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The stock has a 50 day moving average price of $23.00 and a 200 day moving average price of $23.90. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the previous year, the company earned $0.39 EPS. Regions Financial's revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts forecast 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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial's dividend payout ratio (DPR) is 51.55%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Truist Financial reduced their price target 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. Barclays lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Wells Fargo & Company lowered their price target on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. dropped their price target on Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Citigroup reduced their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $26.95.

About Regions Financial

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.