Legal & General Group Plc Purchases New Stake in Regions Financial Corporation $RF

Legal & General Group Plc purchased a new stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 5,419,013 shares of the bank's stock, valued at approximately $163,654,000. Legal & General Group Plc owned 0.64% of Regions Financial as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in Regions Financial by 8.5% during the second quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank's stock valued at $63,645,000 after buying an additional 165,527 shares during the period. Swiss Life Asset Management Ltd grew its position in shares of Regions Financial by 244.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank's stock worth $61,135,000 after buying an additional 1,600,926 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of 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 acquiring an additional 69,191 shares in the last quarter. Royal Palms Capital LLC bought a new position in shares of Regions Financial in the 4th quarter worth about $4,137,000. Finally, Waterloo Capital L.P. lifted its position in Regions Financial by 123.7% during the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank's stock valued at $3,683,000 after acquiring an additional 75,149 shares during the period. Institutional investors own 79.39% of the company's stock.

Regions Financial Trading Up 0.4%

Shares of NYSE RF opened at $30.74 on Thursday. The firm's 50 day moving average price is $30.77 and its 200-day moving average price is $28.81. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $26.19 billion, a PE ratio of 12.55, a P/E/G ratio of 1.17 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share 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 last year, the firm earned $0.60 earnings per share. The firm's quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. 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 dividend on an annualized basis and a dividend yield of 3.9%. Regions Financial's dividend payout ratio is currently 43.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Regions Financial in a report on Friday, July 17th. Keefe, Bruyette & Woods boosted their price target on Regions Financial from $32.00 to $33.00 and gave the stock a "market perform" rating in a research report on Monday, July 20th. Jefferies Financial Group restated a "hold" rating and issued a $32.00 price target on shares of Regions Financial in a research note on Friday, July 17th. 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. Finally, Evercore reissued an "underperform" rating and issued a $31.00 target price on shares of Regions Financial in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $32.24.

About Regions Financial

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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