State of Alaska Department of Revenue Has $3.01 Million Holdings in Regions Financial Co. (NYSE:RF)

State of Alaska Department of Revenue reduced its position in Regions Financial Co. (NYSE:RF) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 129,060 shares of the bank’s stock after selling 20,905 shares during the quarter. State of Alaska Department of Revenue’s holdings in Regions Financial were worth $3,010,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its position in shares of Regions Financial by 1.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 277,006 shares of the bank’s stock valued at $6,367,000 after purchasing an additional 4,963 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Regions Financial by 2.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 161,490 shares of the bank’s stock worth $3,768,000 after buying an additional 3,240 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Regions Financial by 5.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 151,663 shares of the bank’s stock valued at $3,538,000 after acquiring an additional 7,811 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Regions Financial during the 3rd quarter valued at $354,000. Finally, Forsta AP Fonden boosted its stake in Regions Financial by 1.0% during the third quarter. Forsta AP Fonden now owns 214,500 shares of the bank’s stock worth $5,004,000 after acquiring an additional 2,200 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Stock Performance

RF stock opened at $23.87 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. The firm has a market cap of $21.84 billion, a PE ratio of 13.49, a P/E/G ratio of 2.54 and a beta of 1.17. The business has a 50 day moving average of $23.07 and a 200-day moving average of $21.11. Regions Financial Co. has a 12-month low of $14.27 and a 12-month high of $24.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings data 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 the consensus estimate 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 for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. As a group, sell-side analysts expect that Regions Financial Co. will post 2.05 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued 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 4.19%. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RF shares. Royal Bank of Canada upped their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Evercore ISI upped their price target on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Truist Financial raised their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $27.00 to $28.00 in a research report on Thursday. Finally, Morgan Stanley lifted their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.45.

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.