56,200 Shares in Regions Financial Co. (NYSE:RF) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of Regions Financial Co. (NYSE:RF) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 56,200 shares of the bank’s stock, valued at approximately $1,089,000.

Several other hedge funds have also added to or reduced their stakes in RF. Moisand Fitzgerald Tamayo LLC acquired a new stake in Regions Financial during the 3rd quarter worth approximately $26,000. Sound Income Strategies LLC boosted its position in Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after buying an additional 750 shares during the period. HM Payson & Co. boosted its position in Regions Financial by 2,000.0% during the 3rd quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock worth $36,000 after buying an additional 2,000 shares during the period. West Paces Advisors Inc. boosted its position in Regions Financial by 277.2% during the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock worth $41,000 after buying an additional 1,752 shares during the period. Finally, Baker Avenue Asset Management LP boosted its position in Regions Financial by 69.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock worth $42,000 after buying an additional 1,000 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Performance

Shares of RF stock opened at $19.34 on Wednesday. The firm has a market capitalization of $17.77 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The firm has a fifty day simple moving average of $19.36 and a two-hundred day simple moving average of $18.05. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $21.08.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm posted $0.62 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. Analysts forecast that Regions Financial Co. will post 1.97 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.24 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 4.96%. Regions Financial’s payout ratio is 52.17%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $15.00 to $22.00 in a research report on Tuesday, January 9th. Evercore ISI boosted their price target on shares of Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Truist Financial dropped their price target on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday. Argus downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.17.

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.