Strs Ohio Has $6.53 Million Stake in Regions Financial Corporation $RF

Strs Ohio cut its stake in Regions Financial Corporation (NYSE:RF) by 20.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 247,482 shares of the bank’s stock after selling 61,809 shares during the period. Strs Ohio’s holdings in Regions Financial were worth $6,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in RF. GAM Holding AG acquired a new stake in shares of Regions Financial in the third quarter valued at approximately $1,760,000. Allspring Global Investments Holdings LLC grew its position in Regions Financial by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after purchasing an additional 233,458 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Regions Financial by 34.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock worth $1,444,000 after buying an additional 15,820 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Regions Financial by 4.9% in the second quarter. Nordea Investment Management AB now owns 419,311 shares of the bank’s stock valued at $9,913,000 after acquiring an additional 19,579 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Regions Financial by 89.4% during the second quarter. Osaic Holdings Inc. now owns 244,610 shares of the bank’s stock worth $5,510,000 after acquiring an additional 115,458 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of RF opened at $27.76 on Tuesday. The company’s 50-day moving average is $27.06 and its 200-day moving average is $26.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $24.34 billion, a PE ratio of 12.12, a PEG ratio of 0.98 and a beta of 1.03. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $29.25.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. Equities analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

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

Analyst Ratings Changes

Several research firms have weighed in on RF. TD Cowen reaffirmed a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. Morgan Stanley set a $31.00 price target on shares of Regions Financial in a research report on Monday, January 19th. Evercore ISI cut shares of Regions Financial from an “in-line” rating to an “underperform” rating and increased their price target for the company from $27.00 to $29.00 in a research note on Tuesday, January 6th. Wells Fargo & Company lowered shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research note on Friday, January 16th. Finally, Barclays raised their target price on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and an average price target of $29.27.

Insider Activity at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the transaction, the executive vice president owned 17,569 shares in the company, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

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.