New York State Teachers Retirement System Reduces Stock Position in Regions Financial Co. (NYSE:RF)

New York State Teachers Retirement System trimmed its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 880,587 shares of the bank's stock after selling 50,108 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Regions Financial worth $17,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank's stock valued at $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank's stock valued at $1,080,928,000 after buying an additional 1,951,026 shares during the period. Norges Bank bought a new stake in shares of Regions Financial during the 4th quarter valued at about $210,379,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Regions Financial by 1.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank's stock worth $162,163,000 after acquiring an additional 103,529 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Regions Financial by 19.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank's stock worth $70,952,000 after buying an additional 606,647 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Up 2.9 %

NYSE:RF traded up $0.65 during mid-day trading on Friday, reaching $22.81. The company's stock had a trading volume of 10,019,564 shares, compared to its average volume of 8,055,935. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $22.99. The stock has a fifty day moving average of $20.75 and a 200-day moving average of $19.77. The firm has a market capitalization of $20.89 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company's revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 EPS. Equities research analysts forecast that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is an increase from Regions Financial's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.38%. Regions Financial's dividend payout ratio (DPR) is currently 54.35%.

Analyst Upgrades and Downgrades

RF has been the subject of several analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of Regions Financial from $22.00 to $21.00 and set a "market perform" rating for the company in a report on Tuesday, July 9th. Citigroup lifted their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Morgan Stanley raised their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 13th. Finally, Royal Bank of Canada raised their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $21.51.

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.