Daiichi Life Insurance Co. Ltd. Buys Shares of 28,515 Regions Financial Corporation $RF

Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of Regions Financial Corporation (NYSE:RF) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 28,515 shares of the bank’s stock, valued at approximately $861,000.

A number of other large investors have also recently made changes to their positions in RF. Norges Bank purchased a new position in shares of Regions Financial during the fourth quarter valued at approximately $254,564,000. Victory Capital Management Inc. boosted its holdings in Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after purchasing an additional 9,312,449 shares during the last quarter. First Trust Advisors LP boosted its holdings in Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock worth $348,936,000 after purchasing an additional 5,754,487 shares during the last quarter. Korea Investment CORP bought a new stake in Regions Financial in the 2nd quarter worth approximately $99,190,000. Finally, Qube Research & Technologies Ltd grew its position in Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock worth $106,061,000 after purchasing an additional 2,980,505 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Price Performance

NYSE RF opened at $30.62 on Tuesday. Regions Financial Corporation has a 12 month low of $22.70 and a 12 month high of $32.47. The stock has a market cap of $26.09 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.16 and a beta of 1.00. The company’s 50 day moving average is $30.70 and its two-hundred day moving average is $28.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, research analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. Regions Financial’s dividend payout ratio is presently 48.98%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RF shares. Royal Bank Of Canada reissued an “outperform” rating and set a $34.00 price target on shares of Regions Financial in a report on Monday, July 20th. Evercore reaffirmed an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. Keefe, Bruyette & Woods increased their target price on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Finally, Morgan Stanley raised their target price on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and an average price target of $32.24.

Regions Financial Company Profile

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.