Illinois Municipal Retirement Fund Purchases 351,935 Shares of Regions Financial Co. (NYSE:RF)

Illinois Municipal Retirement Fund grew its stake in Regions Financial Co. (NYSE:RF - Free Report) by 1,310.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,781 shares of the bank's stock after purchasing an additional 351,935 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Regions Financial were worth $8,909,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Citigroup Inc. increased its position in Regions Financial by 20.0% during the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank's stock worth $35,445,000 after acquiring an additional 253,708 shares during the period. Aprio Wealth Management LLC bought a new position in Regions Financial during the fourth quarter worth about $1,247,000. Nordea Investment Management AB increased its position in Regions Financial by 60.4% during the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank's stock worth $6,220,000 after acquiring an additional 99,115 shares during the period. Commerce Bank increased its position in Regions Financial by 392.5% during the third quarter. Commerce Bank now owns 248,325 shares of the bank's stock worth $5,793,000 after acquiring an additional 197,900 shares during the period. Finally, Vest Financial LLC increased its position in Regions Financial by 20.4% during the fourth quarter. Vest Financial LLC now owns 1,479,865 shares of the bank's stock worth $34,806,000 after acquiring an additional 250,729 shares during the period. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

Shares of RF traded up $0.31 during mid-day trading on Friday, reaching $23.71. The company had a trading volume of 8,334,005 shares, compared to its average volume of 7,973,182. The company's 50 day simple moving average is $24.06 and its 200 day simple moving average is $24.00. Regions Financial Co. has a 1-year low of $17.72 and a 1-year high of $27.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $21.47 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.93 and a beta of 1.20.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned $0.39 EPS. The firm's revenue was up .2% compared to the same quarter last year. Analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 4.22%. Regions Financial's dividend payout ratio is presently 51.55%.

Analyst Upgrades and Downgrades

RF has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. Compass Point raised their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Barclays raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a report on Monday, January 6th. Truist Financial raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a report on Tuesday, January 21st. Finally, Piper Sandler raised their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.67.

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.