Daiwa Securities Group Inc. Buys 4,672 Shares of Regions Financial Co. (NYSE:RF)

Daiwa Securities Group Inc. lifted its stake in Regions Financial Co. (NYSE:RF) by 5.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 84,903 shares of the bank’s stock after buying an additional 4,672 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Regions Financial were worth $1,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RF. AE Wealth Management LLC lifted its holdings in Regions Financial by 22.5% during the 3rd quarter. AE Wealth Management LLC now owns 111,590 shares of the bank’s stock valued at $1,919,000 after purchasing an additional 20,470 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Regions Financial by 52.2% in the 3rd quarter. IFP Advisors Inc now owns 8,843 shares of the bank’s stock worth $152,000 after acquiring an additional 3,033 shares in the last quarter. Impact Partnership Wealth LLC bought a new stake in Regions Financial during the 3rd quarter worth approximately $351,000. CreativeOne Wealth LLC acquired a new stake in Regions Financial during the 3rd quarter valued at $185,000. Finally, Czech National Bank raised its position in Regions Financial by 47.7% in the 3rd quarter. Czech National Bank now owns 164,009 shares of the bank’s stock valued at $2,821,000 after purchasing an additional 52,932 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $23.00 in a report on Monday, March 18th. Stephens reissued an “equal weight” rating and set a $21.00 price objective on shares of Regions Financial in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Evercore ISI increased their price target on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Finally, Morgan Stanley reduced their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.17.

Regions Financial Price Performance

Shares of RF opened at $19.19 on Tuesday. The stock’s 50-day moving average price is $19.33 and its two-hundred day moving average price is $18.03. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $21.08. The stock has a market cap of $17.63 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. On average, equities analysts predict that Regions Financial Co. will post 1.97 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, May 31st. This represents a $0.96 annualized dividend and a yield of 5.00%. Regions Financial’s dividend payout ratio (DPR) is currently 52.17%.

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.