BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Holdings in Regions Financial Co. (NYSE:RF)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Regions Financial Co. (NYSE:RF) by 58.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 175,995 shares of the bank’s stock after acquiring an additional 64,734 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Regions Financial were worth $3,527,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in shares of Regions Financial during the first quarter worth about $26,000. ICA Group Wealth Management LLC acquired a new stake in Regions Financial in the 4th quarter worth about $28,000. MV Capital Management Inc. increased its stake in Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after buying an additional 618 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings 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 valued at $30,000 after acquiring an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Regions Financial in the second quarter valued at approximately $32,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.5 %

Shares of NYSE:RF opened at $23.02 on Friday. The business has a 50-day moving average price of $22.16 and a 200 day moving average price of $20.51. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $23.47. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.95 and a beta of 1.17.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Sell-side analysts expect that Regions Financial Co. will post 2.01 EPS for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.34%. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio is 54.35%.

Analysts Set New Price Targets

Several analysts recently commented on RF shares. Keefe, Bruyette & Woods dropped their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Morgan Stanley raised their price target on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $23.00 to $28.00 in a report on Tuesday. Finally, Evercore ISI lowered their target price on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial has an average rating of “Hold” and a consensus price target of $22.06.

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.