Regions Financial Co. (NYSE:RF) Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. raised its position in Regions Financial Co. (NYSE:RF) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,504 shares of the bank’s stock after acquiring an additional 1,379 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Regions Financial were worth $611,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after purchasing an additional 1,951,026 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 buying an additional 979,597 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Regions Financial by 1.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock worth $162,163,000 after buying an additional 103,529 shares during the last quarter. Finally, Cincinnati Insurance Co. bought a new position in Regions Financial during the 1st quarter worth approximately $74,606,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of RF opened at $23.11 on Friday. The company has a 50-day moving average of $22.08 and a two-hundred day moving average of $20.41. The stock has a market cap of $21.16 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. Regions Financial Co. has a one year low of $13.72 and a one year high of $23.47.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.59 EPS. On average, equities research analysts expect 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. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. Regions Financial’s dividend payout ratio is currently 54.35%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RF shares. Royal Bank of Canada boosted their price target on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Morgan Stanley lifted their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Evercore ISI lowered their price objective on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Bank of America raised their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.69.

Regions Financial 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.