Public Employees Retirement System of Ohio Purchases 9,047 Shares of Regions Financial Co. (NYSE:RF)

Public Employees Retirement System of Ohio increased its position in Regions Financial Co. (NYSE:RF) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 359,381 shares of the bank’s stock after acquiring an additional 9,047 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Regions Financial were worth $8,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RF. State Street Corp grew its position in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. National Bank of Canada FI boosted its stake in Regions Financial by 575.8% during the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after purchasing an additional 1,452,956 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Regions Financial by 13.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after buying an additional 1,014,706 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after buying an additional 979,597 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Regions Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after buying an additional 816,226 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of RF stock opened at $25.05 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 12-month low of $17.18 and a 12-month high of $27.96. The firm has a fifty day moving average of $25.07 and a 200-day moving average of $22.47. The firm has a market capitalization of $22.77 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 2.72 and a beta of 1.19.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, equities research analysts forecast that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.99%. Regions Financial’s payout ratio is 56.50%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RF. Piper Sandler raised their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Wedbush raised their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a report on Tuesday, October 29th. Argus upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Thursday, October 24th. Finally, DA Davidson lifted their target price on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.61.

Regions Financial Company Profile

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.