PGGM Investments Has $225,000 Position in Regions Financial Co. (NYSE:RF)

PGGM Investments grew its position in shares of Regions Financial Co. (NYSE:RF) by 31.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,227 shares of the bank’s stock after acquiring an additional 2,714 shares during the quarter. PGGM Investments’ holdings in Regions Financial were worth $225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC raised its stake in Regions Financial by 3.6% in the 2nd quarter. V Square Quantitative Management LLC now owns 27,087 shares of the bank’s stock valued at $543,000 after acquiring an additional 948 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Regions Financial by 7.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 143,852 shares of the bank’s stock worth $2,883,000 after purchasing an additional 10,514 shares in the last quarter. Diversified Trust Co boosted its stake in Regions Financial by 23.1% in the second quarter. Diversified Trust Co now owns 39,384 shares of the bank’s stock worth $789,000 after buying an additional 7,399 shares in the last quarter. M&G Plc purchased a new stake in Regions Financial in the second quarter worth approximately $10,417,000. Finally, Sequoia Financial Advisors LLC boosted its stake in Regions Financial by 12.3% in the second quarter. Sequoia Financial Advisors LLC now owns 19,722 shares of the bank’s stock worth $395,000 after buying an additional 2,157 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RF shares. Royal Bank of Canada upped their target price on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Jefferies Financial Group raised their price target on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Citigroup lifted their price objective on Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Bank of America lifted their price objective on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial presently has an average rating of “Hold” and an average price target of $21.51.

Regions Financial Price Performance

Regions Financial stock remained flat at $20.89 during midday trading on Wednesday. The company’s stock had a trading volume of 5,678,994 shares, compared to its average volume of 8,118,287. The stock’s 50-day simple moving average is $20.37 and its 200-day simple moving average is $19.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. Regions Financial Co. has a 52 week low of $13.72 and a 52 week high of $22.88. The firm has a market capitalization of $19.13 billion, a PE ratio of 11.35, a P/E/G ratio of 2.77 and a beta of 1.18.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the business posted $0.59 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. As a group, equities research analysts expect that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.79%. Regions Financial’s dividend payout ratio is currently 54.35%.

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.