Danske Bank A S Invests $15.20 Million in Regions Financial Corporation $RF

Danske Bank A S acquired a new stake in Regions Financial Corporation (NYSE:RF) during the second quarter, Holdings Channel.com reports. The firm acquired 503,169 shares of the bank’s stock, valued at approximately $15,196,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RF. WPG Advisers LLC increased its holdings in Regions Financial by 83.5% in the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after purchasing an additional 370 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Regions Financial during the 2nd quarter worth approximately $25,000. Trust Co. of Vermont bought a new position in shares of Regions Financial during the 2nd quarter worth approximately $26,000. SouthState Bank Corp grew its position in shares of Regions Financial by 94.1% during the 4th 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. Finally, Gables Capital Management Inc. bought a new stake in shares of Regions Financial in the 2nd quarter valued at $30,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 1.1%

RF stock opened at $30.26 on Friday. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average is $30.64 and its 200-day moving average is $28.79. The firm has a market capitalization of $25.78 billion, a PE ratio of 12.35, a P/E/G ratio of 1.17 and a beta of 1.00.

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

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is 43.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RF shares. JPMorgan Chase & Co. upped their price objective on shares of Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Robert W. Baird reaffirmed an “underperform” rating and issued a $28.00 target price on shares of Regions Financial in a research report on Monday, July 6th. Keefe, Bruyette & Woods upped their price target on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Wells Fargo & Company increased their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Finally, UBS Group raised their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.24.

Regions Financial Company Profile

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.