Sumitomo Mitsui DS Asset Management Company Ltd Raises Holdings in Regions Financial Corporation $RF

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Regions Financial by 48.9% in the fourth quarter, bringing its holdings to 154,703 shares valued at about $4.19 million.
• Regions Financial reported Q1 earnings of $0.62 per share, slightly beating estimates, while revenue rose 5% year over year to $1.87 billion. Analysts currently expect the bank to earn 2.61 EPS for the full year.
• The company declared a quarterly dividend of $0.265 per share, implying an annualized yield of about 3.8%. Shares were down 1.1% to $27.65, and analysts’ consensus rating remains Hold with a target price of $30.12.

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 48.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,703 shares of the bank's stock after purchasing an additional 50,777 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Regions Financial were worth $4,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RF. Empowered Funds LLC lifted its holdings in Regions Financial by 7.2% in the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank's stock worth $416,000 after buying an additional 1,278 shares during the period. Woodline Partners LP lifted its holdings in Regions Financial by 40.7% in the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank's stock worth $1,669,000 after buying an additional 22,216 shares during the period. Baird Financial Group Inc. lifted its holdings in Regions Financial by 0.7% in the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank's stock worth $1,687,000 after buying an additional 511 shares during the period. Federated Hermes Inc. lifted its holdings in Regions Financial by 81.2% in the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank's stock worth $275,000 after buying an additional 5,233 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Regions Financial by 5.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank's stock worth $3,320,000 after buying an additional 6,690 shares during the period. Hedge funds and other institutional investors own 79.39% of the company's stock.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company's stock.

Regions Financial Stock Down 1.1%

Shares of NYSE:RF opened at $27.65 on Friday. Regions Financial Corporation has a 52-week low of $20.79 and a 52-week high of $31.53. The firm has a market capitalization of $23.87 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.09 and a beta of 1.02. The stock has a 50 day moving average price of $27.07 and a 200-day moving average price of $27.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the company earned $0.54 EPS. The business's revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.265 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.8%. Regions Financial's dividend payout ratio is currently 44.17%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank Of Canada increased their price objective on Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. JPMorgan Chase & Co. dropped their price objective on Regions Financial from $31.50 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Truist Financial reiterated a "hold" rating and issued a $30.00 price objective on shares of Regions Financial in a report on Tuesday, April 21st. Piper Sandler dropped their price objective on Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, March 30th. Finally, Brean Capital started coverage on Regions Financial in a research report on Thursday, March 12th. They issued a "neutral" rating for the company. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $30.12.

Regions Financial Profile

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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