Mirae Asset Global Investments Co. Ltd. Has $6.23 Million Holdings in Regions Financial Co. (NYSE:RF)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Regions Financial Co. (NYSE:RF) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 321,555 shares of the bank’s stock after purchasing an additional 21,210 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Regions Financial were worth $6,232,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Regions Financial by 2.7% during the third quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank’s stock valued at $1,970,871,000 after purchasing an additional 2,982,310 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Regions Financial by 8.4% during the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after purchasing an additional 4,160,768 shares in the last quarter. State Street Corp raised its position in shares of Regions Financial by 0.4% during the first quarter. State Street Corp now owns 50,312,924 shares of the bank’s stock worth $943,529,000 after acquiring an additional 189,323 shares during the last quarter. Morgan Stanley raised its position in shares of Regions Financial by 16.1% during the fourth quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock worth $435,275,000 after acquiring an additional 2,802,291 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Regions Financial by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock worth $346,922,000 after acquiring an additional 618,384 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Argus downgraded Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Stephens restated an “equal weight” rating and set a $21.00 price objective on shares of Regions Financial in a research report on Tuesday, January 23rd. Barclays reiterated an “underweight” rating and issued a $22.00 target price (up from $20.00) on shares of Regions Financial in a report on Tuesday, January 2nd. Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $22.00 in a report on Tuesday, January 9th. Finally, Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $23.00 in a report on Monday, March 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.39.

Regions Financial Stock Down 1.1 %

Shares of NYSE:RF opened at $19.19 on Monday. The stock has a market cap of $17.63 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 1.38 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $21.08. The business’s 50 day moving average is $19.21 and its 200 day moving average is $17.93.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.09). The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. On average, sell-side analysts forecast that Regions Financial Co. will post 1.98 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 5.00%. Regions Financial’s payout ratio is 45.93%.

About Regions Financial

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.