Louisiana State Employees Retirement System Invests $1.09 Million in Regions Financial Co. (NYSE:RF)

Louisiana State Employees Retirement System bought a new stake in Regions Financial Co. (NYSE:RF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 56,200 shares of the bank’s stock, valued at approximately $1,089,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RF. Moisand Fitzgerald Tamayo LLC bought a new stake in Regions Financial in the third quarter valued at about $26,000. Sound Income Strategies LLC increased its stake in Regions Financial by 103.2% in the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after acquiring an additional 750 shares during the period. HM Payson & Co. increased its stake in Regions Financial by 2,000.0% in the third quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock valued at $36,000 after acquiring an additional 2,000 shares during the period. West Paces Advisors Inc. increased its stake in Regions Financial by 277.2% in the third quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,752 shares during the period. Finally, Baker Avenue Asset Management LP increased its stake in Regions Financial by 69.4% in the third quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock valued at $42,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 0.8 %

Shares of NYSE RF opened at $19.34 on Wednesday. The company’s 50 day simple moving average is $19.36 and its 200 day simple moving average is $18.05. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The firm has a market capitalization of $17.77 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the company earned $0.62 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. On average, analysts predict that Regions Financial Co. will post 1.97 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.96%. The ex-dividend date is Friday, May 31st. Regions Financial’s payout ratio is presently 52.17%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial decreased their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday. Morgan Stanley decreased their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday. Stephens reaffirmed an “equal weight” rating and set a $21.00 price objective on shares of Regions Financial in a research note on Tuesday, January 23rd. Argus cut shares of Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, StockNews.com cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.17.

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.