Mirae Asset Global Investments Co. Ltd. Acquires 89,106 Shares of Regions Financial Corporation (NYSE:RF)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 851,206 shares of the bank's stock after acquiring an additional 89,106 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Regions Financial worth $18,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RF. IFP Advisors Inc increased its position in shares of Regions Financial by 25.2% in the fourth quarter. IFP Advisors Inc now owns 10,529 shares of the bank's stock worth $248,000 after purchasing an additional 2,119 shares during the last quarter. Kovack Advisors Inc. purchased a new position in Regions Financial in the 4th quarter worth approximately $205,000. Proficio Capital Partners LLC bought a new position in shares of Regions Financial in the 4th quarter worth $2,393,000. QRG Capital Management Inc. increased its holdings in shares of Regions Financial by 7.5% in the 4th quarter. QRG Capital Management Inc. now owns 134,794 shares of the bank's stock worth $3,170,000 after buying an additional 9,355 shares during the last quarter. Finally, Private Trust Co. NA raised its position in shares of Regions Financial by 10.9% during the 4th quarter. Private Trust Co. NA now owns 6,998 shares of the bank's stock valued at $165,000 after buying an additional 689 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Up 0.2%

NYSE RF opened at $23.40 on Monday. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The stock has a market capitalization of $21.03 billion, a PE ratio of 11.25, a PEG ratio of 1.85 and a beta of 0.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83. The business's 50-day moving average is $21.56 and its 200 day moving average is $22.34.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the business posted $0.37 EPS. Sell-side analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.27%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) is currently 48.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup lowered their price target on Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company decreased their price objective on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. Jefferies Financial Group initiated coverage on shares of Regions Financial in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Regions Financial has an average rating of "Hold" and a consensus price target of $25.80.

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.

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