Sumitomo Mitsui Trust Group Inc. Has $61.15 Million Stake in Regions Financial Corporation $RF

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Regions Financial Corporation (NYSE:RF) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,599,974 shares of the bank’s stock after acquiring an additional 171,883 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.29% of Regions Financial worth $61,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RF. Cambridge Investment Research Advisors Inc. lifted its position in Regions Financial by 12.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 156,593 shares of the bank’s stock worth $3,403,000 after acquiring an additional 16,801 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Regions Financial by 40.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 115,210 shares of the bank’s stock worth $2,504,000 after acquiring an additional 33,397 shares during the last quarter. Diversified Trust Co lifted its position in Regions Financial by 3.2% during the 1st quarter. Diversified Trust Co now owns 39,230 shares of the bank’s stock worth $852,000 after acquiring an additional 1,223 shares during the last quarter. Achmea Investment Management B.V. lifted its position in Regions Financial by 47.4% during the 1st quarter. Achmea Investment Management B.V. now owns 112,657 shares of the bank’s stock worth $2,448,000 after acquiring an additional 36,232 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Regions Financial by 11.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 851,206 shares of the bank’s stock worth $18,233,000 after acquiring an additional 89,106 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

RF has been the subject of a number of research analyst reports. Cowen reissued a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. Truist Financial reduced their target price on shares of Regions Financial from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Monday, October 20th. Citigroup increased their target price on shares of Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Morgan Stanley set a $32.00 target price on shares of Regions Financial in a research note on Monday, September 29th. Finally, Cantor Fitzgerald initiated coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 target price for the company. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus target price of $28.19.

Regions Financial Stock Up 1.9%

Shares of RF opened at $24.56 on Monday. The stock has a market cap of $21.92 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 1.26 and a beta of 1.02. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The company has a 50-day moving average price of $26.10 and a two-hundred day moving average price of $23.90.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. The firm had revenue of $1.81 billion during the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. Equities analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $0.265 per share. The ex-dividend date is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a yield of 4.3%. Regions Financial’s dividend payout ratio (DPR) is currently 46.70%.

Insider Activity at Regions Financial

In other news, Director Roger W. Jenkins acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares in the company, valued at approximately $162,638.84. This represents a 167.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president directly owned 90,915 shares of the company’s stock, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

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.