Mirae Asset Global Investments Co. Ltd. increased its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 633,565 shares of the bank's stock after buying an additional 68,930 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Regions Financial worth $14,591,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Cincinnati Insurance Co. bought a new stake in Regions Financial during the first quarter valued at about $74,606,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Regions Financial during the first quarter valued at about $33,829,000. Allspring Global Investments Holdings LLC boosted its position in Regions Financial by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank's stock valued at $201,238,000 after purchasing an additional 1,014,706 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank's stock valued at $285,562,000 after purchasing an additional 979,597 shares in the last quarter. Finally, Swedbank AB bought a new stake in Regions Financial during the first quarter valued at about $19,322,000. Hedge funds and other institutional investors own 79.39% of the company's stock.
Regions Financial Stock Down 1.1 %
NYSE RF traded down $0.26 during trading hours on Friday, hitting $23.50. 7,022,663 shares of the company were exchanged, compared to its average volume of 7,543,298. The company has a 50 day moving average of $22.91 and a two-hundred day moving average of $21.00. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a 52-week low of $13.95 and a 52-week high of $24.47. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 2.54 and a beta of 1.17.
Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share 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 analyst estimates of $1.80 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The firm's revenue was down 3.7% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Co. will post 2.05 earnings per share for the current year.
Regions Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.26%. The ex-dividend date is Monday, December 2nd. Regions Financial's payout ratio is currently 54.35%.
Analyst Upgrades and Downgrades
RF has been the subject of several recent analyst reports. DA Davidson lifted their target price on Regions Financial from $27.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Argus raised Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 target price for the company in a report on Thursday. Truist Financial lifted their target price on Regions Financial from $25.00 to $26.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Wells Fargo & Company lifted their price target on Regions Financial from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Finally, StockNews.com upgraded Regions Financial from a "sell" rating to a "hold" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $24.35.
View Our Latest Report on RF
Regions Financial Company Profile
(
Free Report)
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.
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