California Public Employees Retirement System Raises Position in Regions Financial Corporation $RF

California Public Employees Retirement System boosted its holdings in Regions Financial Corporation (NYSE:RF) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,673,382 shares of the bank’s stock after purchasing an additional 128,796 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Regions Financial worth $39,358,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RF. Hardy Reed LLC lifted its stake in shares of Regions Financial by 1.6% in the 2nd quarter. Hardy Reed LLC now owns 25,747 shares of the bank’s stock valued at $606,000 after acquiring an additional 404 shares during the last quarter. Greenwood Capital Associates LLC increased its stake in Regions Financial by 0.6% in the 2nd quarter. Greenwood Capital Associates LLC now owns 72,400 shares of the bank’s stock worth $1,703,000 after purchasing an additional 427 shares during the period. Signet Financial Management LLC lifted its position in Regions Financial by 4.6% in the second quarter. Signet Financial Management LLC now owns 10,896 shares of the bank’s stock valued at $256,000 after purchasing an additional 483 shares during the last quarter. Master S Wealth Management Inc. boosted its stake in shares of Regions Financial by 1.2% during the second quarter. Master S Wealth Management Inc. now owns 40,303 shares of the bank’s stock valued at $948,000 after purchasing an additional 485 shares during the period. Finally, BXM Wealth LLC grew its holdings in shares of Regions Financial by 4.8% in the second quarter. BXM Wealth LLC now owns 10,925 shares of the bank’s stock worth $257,000 after purchasing an additional 500 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

Shares of RF stock opened at $27.40 on Thursday. The business’s fifty day moving average is $24.96 and its 200 day moving average is $24.90. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27. The stock has a market cap of $24.02 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.17 and a beta of 1.04. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.60.

Regions Financial (NYSE:RF) last announced its earnings results on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. The firm had revenue of $1.81 billion for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. Research analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, December 1st. Regions Financial’s dividend payout ratio is 46.70%.

Regions Financial announced that its Board of Directors has approved a share repurchase program on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RF shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Regions Financial in a research report on Wednesday, October 8th. Morgan Stanley set a $32.00 target price on shares of Regions Financial in a report on Monday, September 29th. Evercore ISI boosted their price target on Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Cowen reaffirmed a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. Finally, Stephens reiterated an “equal weight” rating and issued a $27.00 price objective (down from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.93.

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.