Regions Financial Co. (NYSE:RF) Shares Bought by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund increased its stake in Regions Financial Co. (NYSE:RF - Free Report) by 80.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,783 shares of the bank's stock after purchasing an additional 21,689 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Regions Financial were worth $1,147,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Y.D. More Investments Ltd grew its holdings in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after buying an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial in the fourth quarter worth approximately $28,000. Truvestments Capital LLC acquired a new stake in shares of Regions Financial in the third quarter worth approximately $37,000. Legacy Investment Solutions LLC acquired a new stake in shares of Regions Financial in the third quarter worth approximately $37,000. Finally, Quarry LP boosted its position in shares of 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 acquiring an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Down 2.8 %

Shares of NYSE:RF traded down $0.67 during midday trading on Friday, reaching $23.39. The company had a trading volume of 9,066,371 shares, compared to its average volume of 6,679,576. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock's fifty day moving average price is $24.11 and its 200-day moving average price is $23.92. The stock has a market capitalization of $21.26 billion, a P/E ratio of 12.06, a PEG ratio of 1.93 and a beta of 1.20. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96.

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

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 4.28%. Regions Financial's payout ratio is 51.55%.

Wall Street Analysts Forecast Growth

RF has been the topic of several research analyst reports. Wells Fargo & Company raised their target price 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. Keefe, Bruyette & Woods raised shares of Regions Financial from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. Piper Sandler lifted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Barclays lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. Finally, Compass Point lifted their price target on shares of Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $27.67.

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.