Regions Financial Corporation $RF Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in shares of Regions Financial Corporation (NYSE:RF) by 111.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 290,563 shares of the bank’s stock after purchasing an additional 152,987 shares during the period. Teacher Retirement System of Texas’ holdings in Regions Financial were worth $7,662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Centaurus Financial Inc. raised its holdings in Regions Financial by 3.9% during the 2nd quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock worth $241,000 after buying an additional 382 shares during the period. Hardy Reed LLC boosted its holdings in shares of Regions Financial by 1.6% in the second quarter. Hardy Reed LLC now owns 25,747 shares of the bank’s stock worth $606,000 after buying an additional 404 shares during the period. Greenwood Capital Associates LLC increased its position in shares of Regions Financial by 0.6% in the second quarter. Greenwood Capital Associates LLC now owns 72,400 shares of the bank’s stock worth $1,703,000 after acquiring an additional 427 shares in the last quarter. Fairvoy Private Wealth LLC raised its holdings in shares of Regions Financial by 1.9% during the third quarter. Fairvoy Private Wealth LLC now owns 23,670 shares of the bank’s stock valued at $624,000 after acquiring an additional 449 shares during the period. Finally, Master S Wealth Management Inc. raised its holdings 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 acquiring an additional 485 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Down 2.8%

NYSE RF opened at $27.49 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $29.25. The firm’s fifty day simple moving average is $26.99 and its 200-day simple moving average is $26.11. The company has a market capitalization of $24.10 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business posted $0.56 EPS. Regions Financial’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 10th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the bank to buy up to 12.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

RF has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective for the company. in a research note on Friday, January 16th. Truist Financial increased their target price on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Morgan Stanley set a $31.00 price target on Regions Financial in a report on Monday, January 19th. Evercore ISI downgraded Regions Financial from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Finally, TD Cowen reissued a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.27.

Regions Financial Company Profile

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.