Retirement Systems of Alabama Trims Stock Holdings in Regions Financial Co. (NYSE:RF)

Retirement Systems of Alabama lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,778 shares of the bank’s stock after selling 2,112 shares during the quarter. Retirement Systems of Alabama’s holdings in Regions Financial were worth $4,628,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RF. State Street Corp lifted its position in Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after buying an additional 7,791,399 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares in the last quarter. Geode Capital Management LLC grew its stake in Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after purchasing an additional 315,605 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of 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 worth $201,238,000 after acquiring an additional 1,014,706 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Regions Financial by 0.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock valued at $191,921,000 after purchasing an additional 61,426 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

RF has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Citigroup increased their target price on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, DA Davidson raised their price objective on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One equities research 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. Based on data from MarketBeat, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Stock Performance

RF stock opened at $24.09 on Tuesday. The firm has a market cap of $21.89 billion, a PE ratio of 12.42, a P/E/G ratio of 1.97 and a beta of 1.20. The business’s 50-day moving average price is $24.45 and its two-hundred day moving average price is $23.77. Regions Financial Co. has a 1-year low of $17.61 and a 1-year high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. Regions Financial’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. As a group, research analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial 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.