State of Tennessee Department of Treasury Decreases Stock Position in Regions Financial Co. (NYSE:RF)

State of Tennessee Department of Treasury decreased its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 372,317 shares of the bank's stock after selling 16,183 shares during the quarter. State of Tennessee Department of Treasury's holdings in Regions Financial were worth $8,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Regions Financial during the fourth quarter worth about $279,103,000. Invesco Ltd. boosted its holdings in shares of Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after acquiring an additional 1,963,954 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after purchasing an additional 1,396,647 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Regions Financial during the 4th quarter valued at about $31,480,000. Finally, Allianz Asset Management GmbH boosted its position in shares of Regions Financial by 247.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank's stock valued at $40,891,000 after acquiring an additional 1,237,538 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on RF. Morgan Stanley lowered their target price on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Barclays dropped their price objective on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Stephens reduced their target price on Regions Financial from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods cut their price objective on Regions Financial from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Finally, Citigroup decreased their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Regions Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.53.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company's stock.

Regions Financial Price Performance

RF stock traded down $0.04 during trading on Tuesday, hitting $20.42. 1,695,934 shares of the company's stock traded hands, compared to its average volume of 8,070,930. The business has a fifty day simple moving average of $21.08 and a 200 day simple moving average of $23.44. Regions Financial Co. has a 52 week low of $17.72 and a 52 week 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 stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $0.37 EPS. As a group, research analysts expect that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's dividend payout ratio is 48.08%.

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.