New York State Teachers Retirement System Reduces 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 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 849,826 shares of the bank's stock after selling 30,761 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Regions Financial worth $19,826,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EntryPoint Capital LLC acquired a new stake in Regions Financial during the first quarter worth about $26,000. American National Bank & Trust increased its holdings in shares of Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock worth $27,000 after buying an additional 1,114 shares during the last quarter. Quarry LP lifted its holdings in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank's stock valued at $27,000 after acquiring an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock valued at $30,000 after acquiring an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in Regions Financial in the second quarter worth approximately $32,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Down 1.3 %

NYSE RF traded down $0.31 during trading on Friday, reaching $23.56. 7,072,878 shares of the company's stock were exchanged, compared to its average volume of 7,919,557. The company has a 50 day moving average price of $23.09 and a two-hundred day moving average price of $21.14. The stock has a market cap of $21.56 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.17. Regions Financial Co. has a 1 year low of $14.60 and a 1 year high of $24.47. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. Regions Financial's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, equities research analysts anticipate that Regions Financial Co. will post 2.1 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 4.24%. Regions Financial's dividend payout ratio is currently 56.50%.

Analyst Upgrades and Downgrades

RF has been the topic of several recent analyst reports. Morgan Stanley upped their price target on Regions Financial from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a "hold" rating to a "buy" rating and raised their price target for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. Stephens upgraded Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 price objective on the stock in a report on Tuesday. Barclays raised their target price on Regions Financial from $22.00 to $25.00 and gave the company an "underweight" rating in a report on Monday, October 21st. Finally, Argus raised shares of Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $25.45.

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.