Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Position in Regions Financial Corporation $RF

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Regions Financial Corporation (NYSE:RF) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,062,901 shares of the bank’s stock after acquiring an additional 112,677 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of Regions Financial worth $62,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Empowered Funds LLC increased its stake in Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after purchasing an additional 1,278 shares during the period. Woodline Partners LP grew its holdings in shares of Regions Financial by 40.7% during the first 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 last quarter. Baird Financial Group Inc. grew its holdings in shares of Regions Financial by 0.7% during the second 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 last quarter. Federated Hermes Inc. increased its position in Regions Financial by 81.2% in the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after acquiring an additional 5,233 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Regions Financial by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after acquiring an additional 6,690 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 3.4%

RF opened at $30.61 on Thursday. The business’s fifty day moving average is $30.61 and its two-hundred day moving average is $28.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $26.08 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.21 and a beta of 1.00. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. Analysts anticipate that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.9%. Regions Financial’s payout ratio is currently 43.27%.

Analyst Ratings Changes

A number of research firms have recently issued reports on RF. Evercore reissued an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a report on Monday, July 6th. Wells Fargo & Company lifted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Cantor Fitzgerald boosted their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Stephens started coverage on shares of Regions Financial in a research note on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.24.

Regions Financial Company 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.