Meiji Yasuda Asset Management Co Ltd. Has $766,000 Position in Regions Financial Corporation $RF

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 18.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,239 shares of the bank’s stock after purchasing an additional 5,501 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Regions Financial were worth $766,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan lifted its stake in shares of Regions Financial by 93.1% in the 1st quarter. Canada Post Corp Registered Pension Plan now owns 28,369 shares of the bank’s stock valued at $616,000 after acquiring an additional 13,679 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Regions Financial in the 1st quarter worth approximately $1,255,000. Ashton Thomas Private Wealth LLC lifted its holdings in Regions Financial by 2.9% in the first quarter. Ashton Thomas Private Wealth LLC now owns 23,863 shares of the bank’s stock valued at $524,000 after buying an additional 682 shares during the period. Stance Capital LLC lifted its stake in shares of Regions Financial by 34,567.1% in the 1st quarter. Stance Capital LLC now owns 121,335 shares of the bank’s stock valued at $2,637,000 after purchasing an additional 120,985 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Regions Financial by 0.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 112,386 shares of the bank’s stock worth $2,442,000 after buying an additional 661 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Insider Activity

In other news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the sale, the executive vice president directly owned 90,915 shares in the company, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roger W. Jenkins purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $25.48 per share, with a total value of $101,920.00. Following the purchase, the director directly owned 6,383 shares of the company’s stock, valued at $162,638.84. This trade represents a 167.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

RF has been the topic of several research reports. Citigroup upped their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. TD Cowen initiated coverage on Regions Financial in a research note on Thursday, May 15th. They set a “buy” rating and a $31.00 price objective on the stock. Cowen began coverage on shares of Regions Financial in a research report on Wednesday, May 14th. They set a “buy” rating on the stock. Finally, Stephens boosted their price target on shares of Regions Financial from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Regions Financial has an average rating of “Moderate Buy” and an average price target of $27.47.

Regions Financial Price Performance

Regions Financial stock opened at $27.04 on Thursday. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. The stock has a market cap of $24.13 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.54 and a beta of 1.02. The business has a 50-day simple moving average of $25.81 and a 200 day simple moving average of $22.94.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $0.52 earnings per share. Regions Financial’s quarterly revenue was up 10.1% on a year-over-year basis. On average, research analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial’s payout ratio is 49.30%.

Regions Financial Company 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.