MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Holdings in Regions Financial Corporation $RF

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Regions Financial Corporation by 32.1%, selling 105,931 shares and owning 224,452 shares valued at approximately $4.87 million after the sale.
• Regions Financial has recently increased its quarterly dividend to $0.265, resulting in a 3.9% dividend yield, with the payout representing 49.30% of its earnings.
• Analysts have a consensus rating of "Moderate Buy" for Regions Financial, with a price target averaging $27.47, reflecting varied perspectives from analysts and a strong interest from institutional investors.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 32.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,452 shares of the bank's stock after selling 105,931 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Regions Financial were worth $4,866,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Bayforest Capital Ltd boosted its stake in Regions Financial by 637.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after purchasing an additional 1,058 shares during the last quarter. Rossby Financial LCC bought a new stake in Regions Financial in the 1st quarter worth about $36,000. Grove Bank & Trust raised its position in Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after buying an additional 814 shares during the last quarter. Groupe la Francaise bought a new position in Regions Financial during the 1st quarter valued at about $41,000. Finally, Wealth Preservation Advisors LLC bought a new position in Regions Financial during the 1st quarter valued at about $58,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RF has been the subject of a number of research analyst reports. Cantor Fitzgerald assumed coverage on shares of Regions Financial in a research note on Wednesday. They issued an "overweight" rating and a $30.00 price target for the company. DA Davidson lifted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Barclays reiterated an "underweight" rating and set a $27.00 target price (up from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Stephens increased their price target on Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Morgan Stanley lifted their price objective on Regions Financial from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.47.

Regions Financial Stock Performance

Shares of RF stock traded up $0.15 during mid-day trading on Friday, reaching $27.19. 17,753,369 shares of the company's stock traded hands, compared to its average volume of 16,845,808. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $24.26 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.55 and a beta of 1.02. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The firm has a 50 day moving average price of $25.91 and a two-hundred day moving average price of $22.99.

Regions Financial (NYSE:RF - Get Free Report) last released 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. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.Regions Financial's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. On average, research analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This is a boost from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. 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%.

Insider Activity at Regions Financial

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

Regions Financial Company Profile

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.