9,933 Shares in Regions Financial Corporation $RF Purchased by Meiji Yasuda Life Insurance Co

Key Points

• Meiji Yasuda Life Insurance Co has acquired a new position in Regions Financial Corporation, purchasing 9,933 shares valued at approximately $216,000.
• A number of institutional investors have increased their stakes in Regions Financial, indicating strong institutional interest in the stock, with institutional ownership now at 79.39%.
• The company has announced a quarterly dividend increase to $0.265 per share, representing a 4.0% yield, reflecting its strong financial performance with a recent earnings beat.

Meiji Yasuda Life Insurance Co acquired a new position in shares of Regions Financial Corporation (NYSE:RF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,933 shares of the bank's stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also modified their holdings of RF. Cetera Investment Advisers boosted its position in shares of Regions Financial by 6.8% in the fourth quarter. Cetera Investment Advisers now owns 292,379 shares of the bank's stock worth $6,877,000 after buying an additional 18,489 shares during the period. Focus Partners Wealth boosted its position in shares of Regions Financial by 20.0% in the fourth quarter. Focus Partners Wealth now owns 30,474 shares of the bank's stock worth $717,000 after buying an additional 5,074 shares during the period. Logan Capital Management Inc. boosted its position in shares of Regions Financial by 40.4% in the fourth quarter. Logan Capital Management Inc. now owns 132,100 shares of the bank's stock worth $3,107,000 after buying an additional 38,016 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Regions Financial by 105.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 330,383 shares of the bank's stock worth $7,771,000 after buying an additional 169,593 shares during the period. Finally, Mubadala Investment Co PJSC acquired a new stake in shares of Regions Financial in the fourth quarter worth $3,818,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Insider Transactions at Regions Financial

In other news, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the transaction, the executive vice president directly owned 90,915 shares in the company, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roger W. Jenkins acquired 4,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the completion of the purchase, the director directly owned 6,383 shares of the company's stock, valued at $162,638.84. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

RF has been the subject of several recent analyst reports. Citigroup raised their target price on Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Barclays reissued an "underweight" rating and set a $27.00 price objective (up previously from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. Morgan Stanley lifted their price objective on Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of "Moderate Buy" and an average price target of $27.47.

Regions Financial Stock Up 0.6%

NYSE RF traded up $0.15 during trading on Friday, hitting $27.19. 17,753,369 shares of the company traded hands, compared to its average volume of 16,845,808. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The business has a fifty day simple moving average of $25.91 and a 200 day simple moving average of $23.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $24.26 billion, a P/E ratio of 12.65, a PEG ratio of 1.55 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $0.52 earnings per share. The business's revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.265 dividend. The ex-dividend date is Tuesday, September 2nd. This is a boost from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.9%. Regions Financial's dividend payout ratio is presently 49.30%.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.