Regions Financial Corporation $RF Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 5.8% during the second quarter, Holdings Channel reports. The fund owned 2,062,901 shares of the bank’s stock after purchasing an additional 112,677 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Regions Financial were worth $62,300,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. 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 valued at $25,000 after buying an additional 370 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Regions Financial during the 2nd quarter worth approximately $25,000. SouthState Bank Corp grew its position in shares of Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after acquiring an additional 538 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Regions Financial in the 4th quarter worth approximately $33,000. Finally, DV Equities LLC bought a new stake in shares of Regions Financial in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analysts Set New Price Targets

RF has been the topic of a number of research reports. DA Davidson increased their target price on shares of Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Citigroup lifted their price target on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 20th. Cantor Fitzgerald boosted their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. UBS Group boosted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 price objective on shares of Regions Financial in a research note on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.24.

Regions Financial Price Performance

Shares of NYSE:RF opened at $30.61 on Thursday. The firm’s 50 day moving average is $30.61 and its two-hundred day moving average is $28.78. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47. The firm has a market capitalization of $26.08 billion, a P/E ratio of 12.49, a PEG ratio of 1.21 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. Analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current 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 issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.9%. Regions Financial’s dividend payout ratio is currently 43.27%.

Regions Financial 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.