Danske Bank A S Purchases New Position in Regions Financial Corporation $RF

Key Points

• Danske Bank acquired 503,169 shares of Regions Financial in the second quarter, worth approximately $15.2 million; institutional investors collectively own 79.39% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $32.24, while Regions Financial recently traded at $30.26.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.68 in EPS and $1.95 billion in revenue, and raised its quarterly dividend from $0.27 to $0.30 per share, implying a 4.0% annual yield.

Danske Bank A S acquired a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 503,169 shares of the bank's stock, valued at approximately $15,196,000. Danske Bank A S owned approximately 0.06% of Regions Financial at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RF. Russell Investments Group Ltd. lifted its stake in shares of Regions Financial by 8.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank's stock valued at $63,645,000 after acquiring an additional 165,527 shares during the last quarter. Swiss Life Asset Management Ltd grew its position in Regions Financial by 244.4% during the 4th quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank's stock worth $61,135,000 after acquiring an additional 1,600,926 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in Regions Financial during the 4th quarter worth $1,939,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Regions Financial by 3.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank's stock worth $51,247,000 after purchasing an additional 69,191 shares in the last quarter. Finally, Royal Palms Capital LLC acquired a new position in Regions Financial in the 4th quarter worth about $4,137,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Robert W. Baird reissued an "underperform" rating and set a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Wells Fargo & Company upped their price objective on Regions Financial from $28.00 to $30.00 and gave the company an "underweight" rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods raised their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Monday, July 20th. Morgan Stanley boosted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $34.00 price target on shares of Regions Financial in a research report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $32.24.

Regions Financial Trading Down 1.1%

Shares of RF stock opened at $30.26 on Friday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock has a market cap of $25.78 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.17 and a beta of 1.00. The stock has a 50-day moving average of $30.64 and a 200-day moving average of $28.79.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 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 for the quarter, compared to analyst estimates of $1.94 billion. The firm's quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, equities research analysts forecast that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis 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 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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