Aviva PLC Acquires 163,485 Shares of Regions Financial Co. (NYSE:RF)

Aviva PLC boosted its holdings in Regions Financial Co. (NYSE:RF) by 50.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 487,577 shares of the bank’s stock after purchasing an additional 163,485 shares during the period. Aviva PLC’s holdings in Regions Financial were worth $9,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Marietta Investment Partners LLC grew its position in shares of Regions Financial by 1,320.7% in the 1st quarter. Marietta Investment Partners LLC now owns 314,931 shares of the bank’s stock valued at $6,506,000 after acquiring an additional 292,763 shares during the period. Eaton Vance Management grew its position in shares of Regions Financial by 5.5% in the 1st quarter. Eaton Vance Management now owns 1,361,169 shares of the bank’s stock valued at $28,122,000 after acquiring an additional 70,905 shares during the period. Russell Investments Group Ltd. grew its position in shares of Regions Financial by 4.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,074,515 shares of the bank’s stock valued at $21,678,000 after acquiring an additional 44,190 shares during the period. Pinebridge Investments L.P. grew its position in shares of Regions Financial by 338.1% in the 1st quarter. Pinebridge Investments L.P. now owns 510,451 shares of the bank’s stock valued at $10,546,000 after acquiring an additional 393,944 shares during the period. Finally, Ensign Peak Advisors Inc grew its position in shares of Regions Financial by 33.1% in the 1st quarter. Ensign Peak Advisors Inc now owns 234,175 shares of the bank’s stock valued at $4,837,000 after acquiring an additional 58,220 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

NYSE:RF opened at $19.45 on Wednesday. The firm’s fifty day moving average is $19.76 and its 200-day moving average is $20.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 0.83. Regions Financial Co. has a 52 week low of $10.60 and a 52 week high of $23.81. The firm has a market cap of $18.57 billion, a P/E ratio of 7.69, a P/E/G ratio of 1.15 and a beta of 1.52.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, July 22nd. The bank reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.24. Regions Financial had a net margin of 38.28% and a return on equity of 15.63%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company earned ($0.25) EPS. As a group, sell-side analysts anticipate that Regions Financial Co. will post 2.42 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, September 2nd. This is an increase from Regions Financial’s previous quarterly dividend of $0.16. Regions Financial’s payout ratio is presently 59.62%.

RF has been the subject of a number of research reports. Raymond James cut shares of Regions Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 8th. Stephens cut shares of Regions Financial from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $23.00 to $22.00 in a research report on Wednesday, September 8th. Compass Point boosted their target price on shares of Regions Financial from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, May 18th. Odeon Capital Group cut shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 19th. Finally, Morgan Stanley restated an “overweight” rating and issued a $19.29 target price (down from $24.00) on shares of Regions Financial in a research report on Monday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.84.

About Regions Financial

Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, and Wealth Management.

Further Reading: Initial Coin Offering (ICO)

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

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