Zurich Insurance Group Ltd FI boosted its position in Regions Financial Corp (NYSE:RF) by 56.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 386,567 shares of the bank’s stock after purchasing an additional 139,803 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Regions Financial were worth $6,873,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank grew its stake in shares of Regions Financial by 21.1% during the first quarter. Toronto Dominion Bank now owns 607,681 shares of the bank’s stock worth $11,288,000 after acquiring an additional 105,946 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Regions Financial by 422.5% during the second quarter. Victory Capital Management Inc. now owns 856,548 shares of the bank’s stock worth $15,229,000 after acquiring an additional 692,611 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Regions Financial by 195.5% during the second quarter. Assenagon Asset Management S.A. now owns 883,161 shares of the bank’s stock worth $15,703,000 after acquiring an additional 584,241 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Regions Financial during the second quarter worth about $612,000. Finally, Synovus Financial Corp grew its stake in shares of Regions Financial by 8.9% during the second quarter. Synovus Financial Corp now owns 157,618 shares of the bank’s stock worth $2,804,000 after acquiring an additional 12,818 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Shares of NYSE RF opened at $18.97 on Friday. The company has a market capitalization of $21.11 billion, a P/E ratio of 18.97, a PEG ratio of 1.08 and a beta of 1.26. Regions Financial Corp has a 52 week low of $13.65 and a 52 week high of $20.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.87 and a current ratio of 0.88.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 20th. The bank reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. Regions Financial had a return on equity of 9.46% and a net margin of 22.77%. Regions Financial’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. sell-side analysts predict that Regions Financial Corp will post 1.42 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.56 dividend on an annualized basis and a yield of 2.95%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.09. Regions Financial’s dividend payout ratio is currently 56.00%.

In other Regions Financial news, Director Susan W. Matlock sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $18.50, for a total value of $444,000.00. Following the sale, the director now owns 14,914 shares in the company, valued at approximately $275,909. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP C. Keith Herron sold 23,186 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $18.76, for a total value of $434,969.36. Following the completion of the sale, the executive vice president now owns 204,537 shares in the company, valued at approximately $3,837,114.12. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

RF has been the topic of a number of research analyst reports. ValuEngine lowered Regions Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. Royal Bank of Canada upgraded Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a research note on Monday, June 18th. Robert W. Baird upgraded Regions Financial from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 28th. Finally, Wedbush set a $22.00 price target on Regions Financial and gave the stock a “buy” rating in a research note on Friday, September 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.57.

Regions Financial Company Profile

Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.

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

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