862,363 Shares in Regions Financial Corporation $RF Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Regions Financial Corporation (NYSE:RF) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 862,363 shares of the bank’s stock, valued at approximately $26,043,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WPG Advisers LLC grew its position in shares of Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after acquiring an additional 370 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of Regions Financial during the 2nd quarter valued at approximately $25,000. Darwin Wealth Management LLC acquired a new stake in shares of Regions Financial during the 2nd quarter valued at approximately $25,000. Trust Co. of Vermont bought a new position in Regions Financial during the second quarter worth $26,000. Finally, SouthState Bank Corp lifted its stake in Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after purchasing an additional 538 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Up 0.1%

Shares of NYSE RF opened at $30.44 on Tuesday. The company has a market cap of $25.93 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47. 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 stock’s 50 day simple moving average is $30.90 and its 200 day simple moving average is $28.80.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS. Equities research analysts expect that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio is presently 48.98%.

Analyst Ratings Changes

RF has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Cantor Fitzgerald increased their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. Robert W. Baird reaffirmed an “underperform” rating and issued a $28.00 price target on shares of Regions Financial in a report on Monday, July 6th. Finally, Evercore reaffirmed an “underperform” rating and set a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Hold” and an average price target of $32.24.

Regions Financial 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.