Nordea Investment Management AB Has $9.91 Million Stake in Regions Financial Corporation $RF

Key Points

• Nordea Investment Management AB increased its stake in Regions Financial Corporation by 4.9%, owning 419,311 shares worth approximately $9.91 million after buying an additional 19,579 shares in Q2.
• Regions Financial has received multiple upgrades from analysts, with price targets ranging from $29.00 to $32.00, and currently holds a consensus rating of "Moderate Buy".
• The company declared a quarterly dividend of $0.265 per share, scheduled for payment on January 2nd, representing a 4.5% dividend yield based on a payout ratio of 49.30%.

Nordea Investment Management AB boosted its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 4.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 419,311 shares of the bank's stock after buying an additional 19,579 shares during the quarter. Nordea Investment Management AB's holdings in Regions Financial were worth $9,913,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. American National Bank & Trust raised its position in 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 buying an additional 1,022 shares during the last quarter. Bayforest Capital Ltd raised its position in 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 buying an additional 1,058 shares during the last quarter. Rossby Financial LCC purchased a new stake in Regions Financial in the 1st quarter valued at $36,000. Groupe la Francaise purchased a new stake in Regions Financial in the 1st quarter valued at $41,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Regions Financial in the 2nd quarter valued at $44,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Evercore ISI increased their price target on Regions Financial from $28.00 to $29.00 and gave the company an "in-line" rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods increased their price target on Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Cantor Fitzgerald started coverage on Regions Financial in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $30.00 price objective for the company. Morgan Stanley set a $32.00 price objective on Regions Financial in a research note on Monday, September 29th. Finally, Citigroup upped their price objective on Regions Financial from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.79.

Regions Financial Stock Up 0.8%

RF stock opened at $23.54 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market capitalization of $21.00 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.12 and a beta of 1.02. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The stock has a fifty day moving average of $26.23 and a 200-day moving average of $23.71.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The company had revenue of $1.81 billion during the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. As a group, equities research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.265 per share. The ex-dividend date is Monday, December 1st. This represents a $1.06 annualized dividend and a dividend yield of 4.5%. Regions Financial's dividend payout ratio is presently 49.30%.

Insider Buying and Selling at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president owned 90,915 shares of the company's stock, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their position. The sale 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 that occurred on Wednesday, August 13th. The shares were bought at an average cost of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director directly owned 6,383 shares in the company, valued at $162,638.84. This represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

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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