Dai ichi Life Insurance Company Ltd Takes Position in Regions Financial Co. (NYSE:RF)

Dai ichi Life Insurance Company Ltd acquired a new position in shares of Regions Financial Co. (NYSE:RF) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 92,414 shares of the bank’s stock, valued at approximately $2,156,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RF. EntryPoint Capital LLC acquired a new position in shares of Regions Financial during the first quarter worth $26,000. American National Bank & Trust grew its position in shares of Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after buying an additional 1,114 shares during the last quarter. Quarry LP increased its stake in shares of Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after buying an additional 816 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after acquiring an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Regions Financial in the second quarter worth approximately $32,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE RF opened at $27.26 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The firm’s 50-day simple moving average is $24.34 and its 200 day simple moving average is $22.00. The stock has a market cap of $24.78 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 2.85 and a beta of 1.16. Regions Financial Co. has a fifty-two week low of $15.82 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm earned $0.49 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, research analysts anticipate that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is currently 56.50%.

Analyst Upgrades and Downgrades

RF has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Wells Fargo & Company lifted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Thursday, October 24th. Barclays lifted their price objective on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. Finally, StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.71.

Regions Financial 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.