Kentucky Retirement Systems Has $1.35 Million Stake in Regions Financial Corporation (NYSE:RF)

Kentucky Retirement Systems decreased its holdings in Regions Financial Corporation (NYSE:RF) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,024 shares of the bank’s stock after selling 862 shares during the period. Kentucky Retirement Systems’ holdings in Regions Financial were worth $1,348,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Lake Street Advisors Group LLC grew its stake in shares of Regions Financial by 2.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock valued at $456,000 after buying an additional 436 shares in the last quarter. Lido Advisors LLC grew its stake in shares of Regions Financial by 2.6% in the 4th quarter. Lido Advisors LLC now owns 22,291 shares of the bank’s stock valued at $530,000 after buying an additional 558 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Regions Financial by 20.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,316 shares of the bank’s stock valued at $86,000 after buying an additional 567 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Regions Financial by 18.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 3,641 shares of the bank’s stock valued at $79,000 after buying an additional 571 shares in the last quarter. Finally, Dean Capital Management grew its stake in shares of Regions Financial by 0.8% in the 4th quarter. Dean Capital Management now owns 73,151 shares of the bank’s stock valued at $1,721,000 after buying an additional 593 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RF. The Goldman Sachs Group lowered their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley decreased their target price on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Citigroup decreased their target price on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Stephens reaffirmed an “overweight” rating and set a $24.00 target price on shares of Regions Financial in a research report on Tuesday, June 3rd. Finally, Cowen assumed coverage on Regions Financial in a research report on Wednesday, May 14th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and a consensus price target of $25.80.

Regions Financial Stock Up 1.2%

RF opened at $22.91 on Wednesday. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $20.60 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 1.80 and a beta of 0.96. The business has a 50 day moving average of $21.32 and a 200-day moving average of $22.41.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the business earned $0.37 earnings per share. As a group, sell-side analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.36%. 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.