Mirae Asset Global Investments Co. Ltd. Increases Stake in Regions Financial Co. (NYSE:RF)

Mirae Asset Global Investments Co. Ltd. raised its stake in Regions Financial Co. (NYSE:RF) by 20.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 762,100 shares of the bank’s stock after acquiring an additional 128,535 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Regions Financial worth $18,091,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quarry LP lifted its stake in shares of Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after purchasing an additional 394 shares during the period. Ballentine Partners LLC raised its position in shares of Regions Financial by 2.5% in the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock worth $411,000 after acquiring an additional 420 shares during the period. Private Advisor Group LLC raised its position in shares of Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock worth $581,000 after acquiring an additional 429 shares during the period. Greenleaf Trust boosted its stake in shares of Regions Financial by 1.8% during the 4th quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock worth $573,000 after acquiring an additional 436 shares in the last quarter. Finally, CWM LLC grew its position in shares of Regions Financial by 1.1% during the 3rd quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after acquiring an additional 480 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Down 0.1 %

NYSE RF opened at $24.35 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 52 week low of $17.42 and a 52 week high of $27.96. The business’s fifty day simple moving average is $24.61 and its 200-day simple moving average is $23.72. The firm has a market cap of $22.13 billion, a PE ratio of 12.55, a P/E/G ratio of 1.97 and a beta of 1.20.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS. As a group, equities analysts anticipate that Regions Financial Co. will post 2.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RF. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Wells Fargo & Company lifted their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Piper Sandler upped their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. DA Davidson lifted their target price 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. Finally, Wedbush upped their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

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.