BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stake in Regions Financial Co. (NYSE:RF)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Regions Financial Co. (NYSE:RF) by 12.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 177,421 shares of the bank’s stock after purchasing an additional 19,924 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Regions Financial were worth $3,580,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of RF. Ardevora Asset Management LLP purchased a new stake in shares of Regions Financial during the 2nd quarter worth about $68,174,000. Jupiter Asset Management Ltd. boosted its holdings in Regions Financial by 381.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 3,251,864 shares of the bank’s stock worth $67,184,000 after acquiring an additional 2,577,118 shares during the period. Ameriprise Financial Inc. boosted its holdings in Regions Financial by 44.0% in the 1st quarter. Ameriprise Financial Inc. now owns 7,115,179 shares of the bank’s stock worth $147,049,000 after acquiring an additional 2,172,683 shares during the period. FIL Ltd boosted its holdings in Regions Financial by 15,197,135.7% in the 1st quarter. FIL Ltd now owns 2,127,613 shares of the bank’s stock worth $43,956,000 after acquiring an additional 2,127,599 shares during the period. Finally, Miller Howard Investments Inc. NY purchased a new position in Regions Financial in the 2nd quarter worth approximately $40,272,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

RF stock opened at $19.80 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market cap of $18.90 billion, a P/E ratio of 7.83, a P/E/G ratio of 1.15 and a beta of 1.52. Regions Financial Co. has a 12-month low of $10.60 and a 12-month high of $23.81. The stock’s 50 day simple moving average is $19.77 and its 200 day simple moving average is $20.82.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Thursday, July 22nd. The bank reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.24. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.55 billion. Regions Financial had a return on equity of 15.63% and a net margin of 38.28%. During the same period in the prior year, the company posted ($0.25) EPS. On average, research analysts forecast that Regions Financial Co. will post 2.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 3rd will be given a dividend of $0.17 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, September 2nd. Regions Financial’s dividend payout ratio is currently 59.62%.

RF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut Regions Financial from an “outperform” rating to an “underperform” rating and set a $18.00 price target for the company. in a report on Wednesday, July 7th. Stephens cut Regions Financial from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $23.00 to $22.00 in a report on Wednesday, September 8th. Morgan Stanley restated an “overweight” rating and issued a $19.29 price target (down previously from $24.00) on shares of Regions Financial in a report on Monday, July 26th. Raymond James cut Regions Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, July 8th. Finally, Citigroup initiated coverage on Regions Financial in a research report on Friday, July 16th. They issued a “hold” rating and a $19.29 target price on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus price target of $20.84.

Regions Financial Company Profile

Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, and Wealth Management.

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Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

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