California Public Employees Retirement System Trims Holdings in Regions Financial Corporation $RF

California Public Employees Retirement System decreased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,436,297 shares of the bank’s stock after selling 25,695 shares during the period. California Public Employees Retirement System owned 0.40% of Regions Financial worth $89,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Darwin Wealth Management LLC purchased a new position in shares of Regions Financial during the second quarter valued at approximately $25,000. SouthState Bank Corp lifted its stake in Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after acquiring an additional 538 shares during the period. Spire Wealth Management boosted its holdings in Regions Financial by 91.5% in the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after acquiring an additional 557 shares in the last quarter. Princeton Global Asset Management LLC boosted its holdings in Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after acquiring an additional 854 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in Regions Financial in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

More Regions Financial News

Here are the key news stories impacting Regions Financial this week:

• Positive Sentiment: Regions Financial beat Q2 earnings expectations, reporting $0.68 per share versus forecasts around $0.63-$0.64, which suggests better-than-expected profitability. Regions Financial (RF) Q2 Earnings Beat Estimates
• Positive Sentiment: Net interest income and lower credit provision helped offset higher expenses, signaling solid underlying banking trends and improving asset quality. Regions Financial Q2 earnings beat on solid NII, lower credit provision
• Positive Sentiment: The company raised its quarterly dividend by 13.2% to $0.30 per share, a sign of management confidence and a shareholder-friendly capital return policy. Regions Financial Corp. Announces 13% Increase in Common Stock Dividend and Declares Preferred Stock Dividends
• Neutral Sentiment: Revenue was slightly below expectations, which tempers the earnings beat and suggests some top-line pressure remains. Regions Financial Q2 Earnings Beat Estimates, NII, Expenses Up Y/Y

Insider Buying and Selling

In related news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stephens started coverage on shares of Regions Financial in a report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price objective for the company. Royal Bank Of Canada lifted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Evercore reiterated an “underperform” rating and set a $31.00 price target on shares of Regions Financial in a research report on Monday, July 6th. UBS Group increased their price target on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.32.

Regions Financial Price Performance

RF opened at $31.67 on Monday. The stock has a fifty day simple moving average of $28.95 and a two-hundred day simple moving average of $28.25. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The company has a market cap of $27.03 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.22 and a beta of 1.00. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Research analysts predict that Regions Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. Regions Financial’s dividend payout ratio is 43.27%.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.