Public Employees Retirement System of Ohio Takes Position in Regions Financial Corporation $RF

Public Employees Retirement System of Ohio acquired a new position in shares of Regions Financial Corporation (NYSE:RF) in the second quarter, Holdings Channel reports. The fund acquired 264,354 shares of the bank’s stock, valued at approximately $7,983,000.

Several other institutional investors have also made changes to their positions in RF. WPG Advisers LLC increased its stake in Regions Financial by 83.5% in the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after acquiring an additional 370 shares during the period. Keating Financial Advisory Services Inc. bought a new position in Regions Financial during the second quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in Regions Financial during the second quarter valued at approximately $26,000. Gables Capital Management Inc. acquired a new stake in Regions Financial during the second quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $25,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RF. Evercore reissued an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a report on Monday, July 6th. Truist Financial increased their price objective on Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods lifted their price objective on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Citigroup boosted their target price on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Stephens started coverage on shares of Regions Financial in a report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price on the stock. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.24.

Regions Financial Stock Down 1.9%

NYSE RF opened at $29.32 on Wednesday. The firm has a market cap of $24.98 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.14 and a beta of 0.99. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47. The stock’s 50 day simple moving average is $30.87 and its 200 day simple moving average is $28.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate 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 company posted $0.60 EPS. As a group, sell-side analysts forecast that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio is 43.27%.

About Regions Financial

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.