Elo Mutual Pension Insurance Co Purchases New Position in Regions Financial Co. (NYSE:RF)

Elo Mutual Pension Insurance Co acquired a new position in Regions Financial Co. (NYSE:RF) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 78,841 shares of the bank’s stock, valued at approximately $1,580,000.

Several other large investors have also bought and sold shares of RF. EntryPoint Capital LLC purchased a new stake in shares of Regions Financial in the 1st quarter worth about $26,000. ICA Group Wealth Management LLC purchased a new stake in Regions Financial in the fourth quarter worth about $28,000. MV Capital Management Inc. increased its stake in shares of Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Regions Financial in the 2nd quarter worth approximately $32,000. 79.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RF has been the subject of a number of recent research reports. Bank of America lifted their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Evercore ISI cut their price target on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Finally, Jefferies Financial Group boosted their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.69.

Regions Financial Stock Performance

Shares of NYSE RF opened at $23.11 on Friday. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47. The firm has a market capitalization of $21.16 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $22.08 and a 200 day moving average of $20.41.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company’s revenue was down 11.5% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. On average, research analysts anticipate that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. Regions Financial’s payout ratio is 54.35%.

About Regions Financial

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.