Mirae Asset Global Investments Co. Ltd. Has $22.01 Million Stake in Regions Financial Corporation $RF

Key Points

• Mirae Asset Global Investments increased its stake in Regions Financial Corporation by 9.9%, owning approximately $22.01 million worth of shares after acquiring an additional 84,513 shares in the second quarter.
• Regions Financial declared a quarterly dividend of $0.265 per share, representing a 4.0% yield, which is an increase from the previous dividend of $0.25.
• The bank's recent quarterly earnings report showed a revenue of $1.91 billion and an earnings per share (EPS) of $0.60, surpassing analyst expectations.

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 9.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 935,719 shares of the bank's stock after buying an additional 84,513 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of Regions Financial worth $22,008,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. American National Bank & Trust boosted its stake in shares of Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank's stock valued at $25,000 after purchasing an additional 1,022 shares in the last quarter. Bayforest Capital Ltd boosted its stake in shares of Regions Financial by 637.3% in 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 in the last quarter. Rossby Financial LCC acquired a new stake in shares of Regions Financial in the 1st quarter valued at approximately $36,000. Grove Bank & Trust boosted its stake in shares of Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after purchasing an additional 814 shares in the last quarter. Finally, Groupe la Francaise acquired a new stake in shares of Regions Financial in the 1st quarter valued at approximately $41,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.6%

Shares of NYSE RF opened at $26.36 on Friday. The company has a 50 day simple moving average of $26.34 and a 200 day simple moving average of $23.47. The firm has a market cap of $23.52 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.50 and a beta of 1.02. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

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

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.0%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's dividend payout ratio (DPR) is 49.30%.

Insider Activity at Regions Financial

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Regions Financial from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Stephens raised their price target on shares of Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Barclays restated an "underweight" rating and issued a $27.00 price target (up from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Keefe, Bruyette & Woods raised their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Evercore ISI raised their price objective on shares of Regions Financial from $28.00 to $29.00 and gave the company an "in-line" rating in a report on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $27.89.

Regions Financial 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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