1,040,156 Shares in Regions Financial Corporation $RF Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Regions Financial Corporation (NYSE:RF) during the third quarter, HoldingsChannel.com reports. The fund purchased 1,040,156 shares of the bank’s stock, valued at approximately $27,959,000.

A number of other hedge funds also recently made changes to their positions in RF. Nykredit A S purchased a new stake in shares of Regions Financial during the 2nd quarter valued at $236,756,000. Bank of America Corp DE acquired a new stake in shares of Regions Financial during the 2nd quarter worth $219,068,000. First Trust Advisors LP increased its holdings in shares of Regions Financial by 75.7% during the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock worth $348,936,000 after buying an additional 5,754,487 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Regions Financial during the 2nd quarter worth $163,654,000. Finally, Korea Investment CORP purchased a new position in shares of Regions Financial in the 2nd quarter worth $99,190,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Regions Financial stock opened at $28.96 on Tuesday. Regions Financial Corporation has a 52-week low of $23.59 and a 52-week high of $32.47. The firm has a fifty day moving average of $28.50 and a 200-day moving average of $28.69. The firm has a market capitalization of $24.68 billion, a P/E ratio of 11.36, a PEG ratio of 1.15 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.36.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 16th. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Regions Financial had a net margin of 23.97% and a return on equity of 13.43%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. As a group, analysts predict that Regions Financial Corporation will post 2.70 EPS for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, December 1st. Regions Financial’s dividend payout ratio is currently 47.06%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RF shares. Royal Bank Of Canada reduced their target price on Regions Financial from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday, October 19th. Citigroup lowered their price target on Regions Financial from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. Evercore restated an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a research note on Tuesday, October 27th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research note on Thursday, October 15th. Finally, Robert W. Baird upgraded Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 price objective on the stock in a report on Friday, September 18th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and an average price target of $31.00.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.