Daiwa Securities Group Inc. Boosts Stock Holdings in Regions Financial Co. (NYSE:RF)

Daiwa Securities Group Inc. raised its stake in Regions Financial Co. (NYSE:RF) by 11.1% during the third quarter, Holdings Channel reports. The firm owned 111,293 shares of the bank’s stock after purchasing an additional 11,087 shares during the period. Daiwa Securities Group Inc.’s holdings in Regions Financial were worth $2,596,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in RF. American National Bank & Trust boosted its holdings in Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,114 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Regions Financial in the 1st quarter valued at about $26,000. Quarry LP lifted its stake in shares of Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after purchasing an additional 1,256 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Regions Financial during the 2nd quarter worth approximately $32,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

RF opened at $27.26 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a 1-year low of $15.82 and a 1-year high of $27.96. The company has a 50-day moving average of $24.34 and a 200-day moving average of $22.00. The company has a market capitalization of $24.78 billion, a P/E ratio of 15.40, a PEG ratio of 2.85 and a beta of 1.16.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 EPS. Equities analysts expect that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.67%. Regions Financial’s payout ratio is 56.50%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. DA Davidson lifted their price target on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Truist Financial lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their target price on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

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.