Sumitomo Mitsui Trust Group Inc. Has $61.15 Million Stake in Regions Financial Corporation $RF

Sumitomo Mitsui Trust Group Inc. lifted its stake in Regions Financial Corporation (NYSE:RF) by 7.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,599,974 shares of the bank’s stock after purchasing an additional 171,883 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Regions Financial were worth $61,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Regions Financial by 34.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock valued at $1,444,000 after purchasing an additional 15,820 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Regions Financial by 13.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank’s stock valued at $3,424,000 after purchasing an additional 18,684 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Regions Financial in the first quarter valued at approximately $272,000. Crossmark Global Holdings Inc. increased its holdings in shares of Regions Financial by 4.0% in the first quarter. Crossmark Global Holdings Inc. now owns 516,421 shares of the bank’s stock valued at $11,222,000 after purchasing an additional 19,741 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Regions Financial by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 5,989,323 shares of the bank’s stock valued at $130,148,000 after purchasing an additional 32,082 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RF. Truist Financial lowered their price target on shares of Regions Financial from $28.00 to $26.00 and set a “hold” rating for the company in a report on Monday, October 20th. DA Davidson upped their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Regions Financial in a research report on Saturday. Cantor Fitzgerald initiated coverage on shares of Regions Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 target price for the company. Finally, Stephens reiterated an “equal weight” rating and set a $27.00 target price (down previously from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.19.

Insiders Place Their Bets

In other news, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the transaction, the executive vice president directly owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This trade represents a 24.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger W. Jenkins purchased 4,000 shares of Regions Financial stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the transaction, the director owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. This represents a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Regions Financial Trading Up 1.9%

Shares of NYSE RF opened at $24.56 on Monday. The company’s fifty day moving average is $26.10 and its 200-day moving average is $23.90. The stock has a market cap of $21.92 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 1.26 and a beta of 1.02. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The company had revenue of $1.81 billion for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. Equities research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, December 1st. Regions Financial’s dividend payout ratio (DPR) is currently 46.70%.

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.