282,601 Shares in Regions Financial Corporation $RF Acquired by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 282,601 shares of Regions Financial during the second quarter, valued at approximately $8.5 million. Institutional investors now own 79.39% of the bank’s outstanding shares.
• Analysts maintain a generally neutral view, with six Buy, ten Hold, and four Sell ratings; the average price target is $32.24 compared with the stock’s $30.35 opening price.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.68 per share versus the $0.63 consensus estimate, and raised its quarterly dividend to $0.30 per share, implying a 4.0% annual yield.

Canada Pension Plan Investment Board acquired a new stake in Regions Financial Corporation (NYSE:RF - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 282,601 shares of the bank's stock, valued at approximately $8,535,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RF. WPG Advisers LLC increased its stake in shares of Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank's stock valued at $25,000 after purchasing an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in Regions Financial in the second quarter valued at about $25,000. Trust Co. of Vermont acquired a new stake in Regions Financial in the second quarter valued at about $26,000. Gables Capital Management Inc. bought a new position in Regions Financial in the second quarter valued at about $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Regions Financial during the second quarter worth about $25,000. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RF has been the subject of a number of research reports. Stephens initiated coverage on shares of Regions Financial in a report on Monday, June 15th. They issued an "equal weight" rating and a $31.00 target price for the company. Jefferies Financial Group reiterated a "hold" rating and set a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. Evercore reissued an "underperform" rating and issued a $31.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $32.00 to $33.00 and gave the stock a "market perform" rating in a research note on Monday, July 20th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Regions Financial in a report on Friday, July 17th. 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's stock. Based on data from MarketBeat.com, Regions Financial currently has an average rating of "Hold" and an average price target of $32.24.

Regions Financial Stock Down 0.2%

Regions Financial stock opened at $30.35 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The firm has a 50 day moving average price of $30.84 and a two-hundred day moving average price of $28.81. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping 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 analysts' expectations of $1.94 billion. During the same period in the prior year, the company posted $0.60 earnings per share. Regions Financial's revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts predict that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The company also recently declared 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. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. This is an increase from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial's 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.

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