Nykredit A S Invests $236.76 Million in Regions Financial Corporation $RF

Key Points

• Nykredit A S bought 7.84 million Regions Financial shares worth approximately $236.76 million, making RF 0.7% of its portfolio and giving the firm a 0.92% stake.
• Regions Financial beat quarterly earnings expectations, reporting $0.68 in EPS versus the $0.63 consensus and $1.95 billion in revenue versus $1.94 billion expected.
• The bank raised its quarterly dividend to $0.30 per share, equivalent to a $1.20 annualized payout and a 4.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $32.29.

Nykredit A S purchased a new position in Regions Financial Corporation (NYSE:RF - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,839,597 shares of the bank's stock, valued at approximately $236,756,000. Regions Financial makes up 0.7% of Nykredit A S's portfolio, making the stock its 18th biggest holding. Nykredit A S owned about 0.92% of Regions Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of RF. WPG Advisers LLC lifted its holdings in shares of Regions Financial by 83.5% during the second quarter. WPG Advisers LLC now owns 813 shares of the bank's stock valued at $25,000 after purchasing an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new position in Regions Financial during the 2nd quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in Regions Financial during the second quarter valued at $26,000. Gables Capital Management Inc. purchased a new position in Regions Financial during the second quarter valued at $30,000. Finally, SouthState Bank Corp boosted its holdings in Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock worth $30,000 after acquiring an additional 538 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

RF has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $32.00 price target on shares of Regions Financial in a research report on Friday, July 17th. DA Davidson raised their price objective on shares of Regions Financial from $33.00 to $34.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Citigroup lifted their target price on shares of Regions Financial from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $34.00 target price on shares of Regions Financial in a research note on Monday, July 20th. Finally, Wells Fargo & Company increased their price target on shares of Regions Financial from $28.00 to $30.00 and gave the company an "underweight" rating in a report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $32.29.

Regions Financial Stock Up 0.1%

RF stock opened at $28.50 on Friday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The business has a fifty day moving average price of $30.77 and a 200-day moving average price of $28.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $24.28 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.16 and a beta of 0.99.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period last year, the firm posted $0.60 earnings per share. Regions Financial's revenue was up .1% compared to the same quarter last year. Equities analysts forecast that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 4.2%. This is an increase from Regions Financial's previous quarterly dividend of $0.27. Regions Financial's dividend payout ratio (DPR) is currently 48.98%.

About Regions Financial

Regions Financial Corporation NYSE: RF is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.

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