Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Regions Financial Co. (NYSE:RF)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Regions Financial Co. (NYSE:RF – Get Rating) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 194,399 shares of the bank’s stock after purchasing an additional 4,074 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Regions Financial were worth $4,191,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CI Investments Inc. lifted its position in shares of Regions Financial by 991.2% in the 3rd quarter. CI Investments Inc. now owns 1,244 shares of the bank’s stock worth $25,000 after purchasing an additional 1,130 shares during the period. MCF Advisors LLC raised its stake in shares of Regions Financial by 2,210.5% during the 4th quarter. MCF Advisors LLC now owns 1,317 shares of the bank’s stock worth $28,000 after acquiring an additional 1,260 shares in the last quarter. Bell Investment Advisors Inc raised its stake in shares of Regions Financial by 30.2% during the 4th quarter. Bell Investment Advisors Inc now owns 1,951 shares of the bank’s stock worth $42,000 after acquiring an additional 452 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of Regions Financial during the 4th quarter worth approximately $43,000. Finally, RE Dickinson Investment Advisors LLC bought a new position in shares of Regions Financial during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 72.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on RF shares. UBS Group boosted their price objective on shares of Regions Financial from $21.00 to $22.00 in a research note on Tuesday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Regions Financial from $26.00 to $23.00 in a research note on Monday, April 10th. Barclays cut their price target on shares of Regions Financial from $29.00 to $23.00 in a research note on Wednesday, April 12th. StockNews.com assumed coverage on shares of Regions Financial in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Finally, Citigroup cut their price target on shares of Regions Financial from $25.00 to $20.00 in a research note on Friday, April 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Regions Financial has an average rating of “Hold” and an average price target of $23.50.

Regions Financial Stock Performance

Shares of NYSE RF opened at $17.43 on Thursday. The company’s fifty day moving average price is $17.72 and its 200 day moving average price is $20.78. Regions Financial Co. has a 1 year low of $13.94 and a 1 year high of $24.33. The company has a market capitalization of $16.35 billion, a PE ratio of 7.55, a price-to-earnings-growth ratio of 0.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.82.

Regions Financial (NYSE:RF – Get Rating) last announced its quarterly earnings results on Friday, April 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03). The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Regions Financial had a return on equity of 16.60% and a net margin of 28.61%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. On average, research analysts predict that Regions Financial Co. will post 2.38 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Thursday, June 1st. Regions Financial’s payout ratio is 34.19%.

Insider Buying and Selling at Regions Financial

In related news, Director J Thomas Hill acquired 11,926 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were acquired at an average cost of $16.78 per share, with a total value of $200,118.28. Following the completion of the acquisition, the director now directly owns 23,107 shares in the company, valued at approximately $387,735.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

Regions Financial Company Profile

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Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.