DnB Asset Management AS Buys 7,400 Shares of Regions Financial Co. (NYSE:RF)

DnB Asset Management AS raised its stake in Regions Financial Co. (NYSE:RFGet Rating) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 231,532 shares of the bank’s stock after buying an additional 7,400 shares during the period. DnB Asset Management AS’s holdings in Regions Financial were worth $4,341,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RF. BlackRock Inc. boosted its stake in shares of Regions Financial by 2.2% in the 1st quarter. BlackRock Inc. now owns 98,861,676 shares of the bank’s stock valued at $2,200,661,000 after purchasing an additional 2,150,107 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Regions Financial by 2.6% in the 1st quarter. JPMorgan Chase & Co. now owns 21,902,764 shares of the bank’s stock valued at $487,555,000 after purchasing an additional 550,917 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Regions Financial by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 20,182,959 shares of the bank’s stock valued at $439,159,000 after purchasing an additional 311,615 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 3.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,271,811 shares of the bank’s stock valued at $362,211,000 after purchasing an additional 536,935 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Regions Financial by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,256,230 shares of the bank’s stock valued at $295,114,000 after purchasing an additional 71,215 shares in the last quarter. Institutional investors own 73.61% of the company’s stock.

Regions Financial Stock Up 1.4 %

Shares of Regions Financial stock opened at $22.24 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.82 and a quick ratio of 0.82. The company has a 50-day moving average of $21.42 and a 200 day moving average of $21.12. The firm has a market cap of $20.78 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.56 and a beta of 1.26. Regions Financial Co. has a 1 year low of $18.01 and a 1 year high of $25.57.

Regions Financial (NYSE:RFGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.69 billion. Regions Financial had a net margin of 32.85% and a return on equity of 14.07%. During the same period last year, the business earned $0.77 EPS. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2.35 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.60%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, September 1st. Regions Financial’s dividend payout ratio (DPR) is presently 36.04%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RF shares. Jefferies Financial Group cut their price objective on shares of Regions Financial from $24.00 to $22.00 in a research note on Monday, July 11th. Morgan Stanley increased their price target on shares of Regions Financial from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 25th. Wedbush increased their price target on shares of Regions Financial to $24.00 in a research report on Monday, July 25th. Keefe, Bruyette & Woods raised shares of Regions Financial from an “underperform” rating to a “market perform” rating and increased their price target for the company from $24.00 to $26.00 in a research report on Thursday, June 2nd. Finally, Wolfe Research dropped their price target on shares of Regions Financial from $24.00 to $20.00 and set a “peer perform” rating for the company in a research report on Thursday, May 26th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.79.

About Regions Financial

(Get Rating)

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.

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

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