Regions Financial Co. (NYSE:RF) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in shares of Regions Financial Co. (NYSE:RF) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,794,605 shares of the bank’s stock after selling 54,784 shares during the period. California Public Employees Retirement System’s holdings in Regions Financial were worth $34,779,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC lifted its position in shares of Regions Financial by 12.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,345,204 shares of the bank’s stock worth $45,450,000 after buying an additional 253,339 shares during the last quarter. Greenwich Wealth Management LLC lifted its position in shares of Regions Financial by 0.8% in the 4th quarter. Greenwich Wealth Management LLC now owns 110,512 shares of the bank’s stock worth $2,142,000 after buying an additional 867 shares during the last quarter. Cetera Trust Company N.A bought a new position in shares of Regions Financial in the 4th quarter worth about $258,000. CWM LLC lifted its position in shares of Regions Financial by 43.8% in the 4th quarter. CWM LLC now owns 40,581 shares of the bank’s stock worth $786,000 after buying an additional 12,364 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Regions Financial by 4.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 134,674 shares of the bank’s stock worth $2,610,000 after buying an additional 5,436 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays reissued an “underweight” rating and set a $22.00 target price (up from $20.00) on shares of Regions Financial in a research note on Tuesday, January 2nd. Piper Sandler boosted their price target on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley cut their price target on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $20.00 to $23.00 in a report on Monday, March 18th. Finally, Royal Bank of Canada boosted their price target on shares of Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Regions Financial has an average rating of “Hold” and an average price target of $20.34.

Insider Buying and Selling

In other news, Director William C. Rhodes III acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, with a total value of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Regions Financial Stock Performance

RF stock opened at $19.62 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $18.03 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 1.45 and a beta of 1.21. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $21.08. The firm has a 50 day moving average of $19.43 and a two-hundred day moving average of $18.09.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. Regions Financial’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. As a group, equities analysts anticipate that Regions Financial Co. will post 1.95 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Friday, May 31st. Regions Financial’s dividend payout ratio is currently 52.17%.

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.