PGGM Investments Acquires Shares of 8,513 Regions Financial Co. (NYSE:RF)

PGGM Investments bought a new position in Regions Financial Co. (NYSE:RF) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,513 shares of the bank’s stock, valued at approximately $179,000.

A number of other institutional investors have also recently modified their holdings of the stock. HB Wealth Management LLC increased its holdings in shares of Regions Financial by 0.6% in the 1st quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after purchasing an additional 551 shares in the last quarter. CWM LLC increased its holdings in Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after buying an additional 556 shares in the last quarter. Perigon Wealth Management LLC raised its position in Regions Financial by 2.8% in the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock worth $433,000 after buying an additional 565 shares during the last quarter. Signet Financial Management LLC lifted its stake in Regions Financial by 4.9% during the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after acquiring an additional 584 shares during the period. Finally, MV Capital Management Inc. boosted its holdings in shares of Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after acquiring an additional 618 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

RF opened at $20.88 on Friday. The company has a 50 day simple moving average of $20.08 and a two-hundred day simple moving average of $19.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $19.11 billion, a P/E ratio of 11.35, a PEG ratio of 2.77 and a beta of 1.18. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $22.88.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. The company had revenue of $1.73 billion during 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%. Regions Financial’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Equities analysts forecast that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.79%. The ex-dividend date is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Bank of America raised their price target on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Royal Bank of Canada upped their price objective on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Citigroup raised their target price on Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.51.

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.