Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Position in Regions Financial Co. (NYSE:RF)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in Regions Financial Co. (NYSE:RF) by 8.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,493 shares of the bank’s stock after selling 2,641 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Regions Financial were worth $642,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Regions Financial in the first quarter valued at about $26,000. Laurel Wealth Advisors LLC grew its holdings in Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after acquiring an additional 649 shares during the period. ICA Group Wealth Management LLC acquired a new stake in Regions Financial during the fourth quarter worth about $28,000. Glassman Wealth Services grew its holdings in Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after acquiring an additional 967 shares during the period. Finally, MV Capital Management Inc. grew its holdings in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares in the company, valued at $831,336.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Regions Financial Price Performance

Shares of NYSE RF traded up $0.21 during midday trading on Friday, hitting $22.76. The stock had a trading volume of 7,329,041 shares, compared to its average volume of 9,182,820. The company has a market capitalization of $20.83 billion, a PE ratio of 12.37, a P/E/G ratio of 2.93 and a beta of 1.18. The stock has a 50 day simple moving average of $19.83 and a 200-day simple moving average of $19.42. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $22.85. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. On average, sell-side analysts expect that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.39%. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group raised their target price on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Truist Financial raised their target price on Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods dropped their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Bank of America raised their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Morgan Stanley dropped their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.32.

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.