Teacher Retirement System of Texas Has $7.66 Million Stock Position in Regions Financial Corporation $RF

Teacher Retirement System of Texas lifted its holdings in Regions Financial Corporation (NYSE:RF) by 111.2% in the 3rd quarter, Holdings Channel reports. The firm owned 290,563 shares of the bank’s stock after buying an additional 152,987 shares during the quarter. Teacher Retirement System of Texas’ holdings in Regions Financial were worth $7,662,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RF. GAM Holding AG bought a new stake in Regions Financial during the third quarter worth approximately $1,760,000. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 worth $241,289,000 after buying an additional 233,458 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings 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 period. iA Global Asset Management Inc. acquired a new position in Regions Financial in the 3rd quarter valued at $1,378,000. Finally, Nordea Investment Management AB raised its holdings in Regions Financial by 4.9% in the 2nd quarter. Nordea Investment Management AB now owns 419,311 shares of the bank’s stock worth $9,913,000 after acquiring an additional 19,579 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $32.00 price target on shares of Regions Financial in a research report on Tuesday, January 6th. Stephens restated an “equal weight” rating and set a $27.00 target price (down previously from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Truist Financial raised their target price on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Piper Sandler lifted their price target on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Finally, Barclays upped their price target on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.27.

Regions Financial Trading Down 2.8%

Regions Financial stock opened at $27.49 on Monday. The business has a 50 day moving average price of $26.99 and a two-hundred day moving average price of $26.11. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $29.25. The stock has a market cap of $24.10 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.04). The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.Regions Financial’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. As a group, 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 initiated a share repurchase plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About Regions Financial

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.