Rakuten Investment Management Inc. Purchases New Shares in Regions Financial Corporation $RF

Rakuten Investment Management Inc. acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) during the second quarter, HoldingsChannel reports. The fund acquired 139,633 shares of the bank’s stock, valued at approximately $4,227,000.

Several other institutional investors have also added to or reduced their stakes in RF. WPG Advisers LLC lifted its position in shares of Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after purchasing an additional 370 shares during the period. Keating Financial Advisory Services Inc. purchased a new position in shares of Regions Financial during the second quarter valued at about $25,000. Darwin Wealth Management LLC purchased a new position in shares of Regions Financial during the second quarter valued at about $25,000. Trust Co. of Vermont bought a new position in Regions Financial in the second quarter worth about $26,000. Finally, SouthState Bank Corp lifted its holdings in Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after buying an additional 538 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Cantor Fitzgerald lifted their price objective on Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Truist Financial increased their target price on Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods raised their target price on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Royal Bank Of Canada restated an “outperform” rating and set a $34.00 price target on shares of Regions Financial in a research report on Monday, July 20th. Finally, UBS Group upped their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.24.

Regions Financial Trading Up 0.1%

NYSE:RF opened at $30.35 on Monday. The firm has a market capitalization of $25.86 billion, a P/E ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47. The company’s 50-day simple moving average is $30.84 and its 200 day simple moving average is $28.80.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts forecast that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. Regions Financial’s dividend payout ratio is 48.98%.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.