Regions Financial Corporation $RF Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 63.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,407,163 shares of the bank’s stock after buying an additional 544,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.17% of Regions Financial worth $37,825,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RF. Russell Investments Group Ltd. raised its position in shares of Regions Financial by 8.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock valued at $63,645,000 after acquiring an additional 165,527 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Regions Financial in the 2nd quarter worth $219,068,000. Envestnet Asset Management Inc. grew its stake in shares of Regions Financial by 433.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,129,927 shares of the bank’s stock worth $64,324,000 after purchasing an additional 1,730,874 shares during the period. Raiffeisen Bank International AG grew its stake in shares of Regions Financial by 7,509.2% during the second quarter. Raiffeisen Bank International AG now owns 48,623 shares of the bank’s stock worth $1,472,000 after purchasing an additional 47,984 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Regions Financial by 12.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 733,501 shares of the bank’s stock worth $22,152,000 after purchasing an additional 80,181 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Truist Financial lowered their price target on Regions Financial from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, October 20th. Royal Bank Of Canada lowered their price target on Regions Financial from $34.00 to $32.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. JPMorgan Chase & Co. increased their price target on shares of Regions Financial from $30.50 to $31.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $32.00 price objective on shares of Regions Financial in a research note on Wednesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Regions Financial currently has a consensus rating of “Hold” and an average target price of $31.00.

Regions Financial Stock Performance

RF stock opened at $28.59 on Friday. The business’s 50-day moving average price is $28.53 and its two-hundred day moving average price is $28.68. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.36. The firm has a market cap of $24.36 billion, a PE ratio of 11.21, a P/E/G ratio of 1.17 and a beta of 1.05. Regions Financial Corporation has a 1-year low of $23.59 and a 1-year high of $32.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 16th. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.06. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts forecast that Regions Financial Corporation will post 2.70 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Regions Financial’s payout ratio is currently 47.06%.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.