Meiji Yasuda Asset Management Co Ltd. Acquires New Position in Regions Financial Corporation $RF

Meiji Yasuda Asset Management Co Ltd. purchased a new position in Regions Financial Corporation (NYSE:RFFree Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,838 shares of the bank’s stock, valued at approximately $720,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WPG Advisers LLC increased its holdings in shares of Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after buying an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new stake in Regions Financial in the second quarter worth about $25,000. Darwin Wealth Management LLC bought a new stake in shares of Regions Financial during the 2nd quarter worth approximately $25,000. Trust Co. of Vermont purchased a new stake in shares of Regions Financial during the second quarter valued at $26,000. Finally, SouthState Bank Corp boosted its position in Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after buying an additional 538 shares during the period. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

RF has been the topic of several research reports. Robert W. Baird restated an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. DA Davidson upped their price objective on shares of Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods increased their target price on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Truist Financial raised their target price on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus target price of $32.24.

Read Our Latest Stock Report on RF

Regions Financial Stock Up 0.1%

Regions Financial stock opened at $30.66 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $26.12 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.17 and a beta of 1.00. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The business has a fifty day moving average price of $30.73 and a 200-day moving average price of $28.80.

Regions Financial (NYSE:RFGet Free Report) last announced its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts forecast that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. Regions Financial’s payout ratio is presently 43.27%.

Regions Financial Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RFFree Report).

Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.