Dai ichi Life Insurance Company Ltd Makes New Investment in Regions Financial Co. (NYSE:RF)

Dai ichi Life Insurance Company Ltd bought a new stake in shares of Regions Financial Co. (NYSE:RF) in the 3rd quarter, HoldingsChannel reports. The fund bought 92,414 shares of the bank’s stock, valued at approximately $2,156,000.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Regions Financial in the first quarter valued at approximately $26,000. California State Teachers Retirement System increased its holdings in Regions Financial by 3.3% in the 1st quarter. California State Teachers Retirement System now owns 1,716,488 shares of the bank’s stock worth $36,115,000 after acquiring an additional 54,309 shares during the last quarter. Tidal Investments LLC raised its stake in Regions Financial by 7.6% in the 1st quarter. Tidal Investments LLC now owns 104,771 shares of the bank’s stock valued at $2,204,000 after acquiring an additional 7,422 shares during the period. Swedbank AB purchased a new stake in Regions Financial during the first quarter valued at about $19,322,000. Finally, PGGM Investments purchased a new position in shares of Regions Financial in the first quarter worth about $179,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

NYSE:RF opened at $27.26 on Thursday. Regions Financial Co. has a 1-year low of $15.82 and a 1-year high of $27.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The business has a 50 day moving average of $24.34 and a 200 day moving average of $22.00. The company has a market capitalization 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 (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. Regions Financial’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. On average, sell-side analysts predict that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Analyst Ratings Changes

A number of research analysts recently weighed in on RF shares. Truist Financial lifted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday. Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a research note on Tuesday, October 29th. Argus upgraded 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. Finally, DA Davidson raised their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.71.

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.