Dai ichi Life Insurance Company Ltd Makes New $2.16 Million Investment in Regions Financial Co. (NYSE:RF)

Dai ichi Life Insurance Company Ltd acquired a new stake in Regions Financial Co. (NYSE:RF - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 92,414 shares of the bank's stock, valued at approximately $2,156,000.

A number of other large investors have also modified their holdings of the business. EntryPoint Capital LLC purchased a new position in Regions Financial during the first quarter worth $26,000. American National Bank & Trust boosted its stake in shares of Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock worth $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP raised its position in shares of Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank's stock valued at $27,000 after buying an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock worth $30,000 after acquiring an additional 1,256 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of Regions Financial during the 2nd quarter valued at $32,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Down 0.2 %

NYSE:RF opened at $27.26 on Thursday. Regions Financial Co. has a 12-month low of $15.82 and a 12-month high of $27.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The business has a 50 day simple moving average of $24.34 and a 200 day simple moving average of $22.00. The firm has a market capitalization of $24.78 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.85 and a beta of 1.16.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. Equities research analysts predict that Regions Financial Co. will post 2.12 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial's dividend payout ratio (DPR) is presently 56.50%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RF. Wells Fargo & Company increased their target price on Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a "hold" rating to a "buy" rating and boosted their target price for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Argus upgraded shares of Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a report on Thursday, October 24th. Truist Financial lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group raised their price objective on Regions Financial from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $26.71.

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.