358,511 Shares in Regions Financial Co. (NYSE:RF) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new position in shares of Regions Financial Co. (NYSE:RF) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 358,511 shares of the bank’s stock, valued at approximately $8,274,000.

A number of other large investors also recently bought and sold shares of the stock. Cetera Investment Advisers raised its position in shares of Regions Financial by 344.1% in the 1st quarter. Cetera Investment Advisers now owns 259,964 shares of the bank’s stock worth $5,470,000 after buying an additional 201,429 shares during the period. Cetera Advisors LLC lifted its stake in shares of Regions Financial by 62.9% in the 1st quarter. Cetera Advisors LLC now owns 46,441 shares of the bank’s stock valued at $977,000 after purchasing an additional 17,924 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Regions Financial by 47.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 275,757 shares of the bank’s stock worth $5,666,000 after purchasing an additional 89,045 shares during the period. GAMMA Investing LLC increased its position in Regions Financial by 61.3% during the 2nd quarter. GAMMA Investing LLC now owns 15,799 shares of the bank’s stock worth $317,000 after purchasing an additional 6,007 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in Regions Financial by 13.3% in the second quarter. DNB Asset Management AS now owns 158,688 shares of the bank’s stock valued at $3,180,000 after buying an additional 18,659 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 0.0 %

RF opened at $27.26 on Monday. Regions Financial Co. has a 12-month low of $16.51 and a 12-month high of $27.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $24.78 billion, a PE ratio of 15.40, a P/E/G ratio of 2.82 and a beta of 1.16. The firm’s fifty day moving average price is $24.50 and its 200 day moving average price is $22.11.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. As a group, research analysts expect that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is presently 56.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Evercore ISI increased their price target on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Citigroup boosted their price objective on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $24.00 to $26.00 in a research note on Thursday, October 24th. Finally, Truist Financial boosted their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Moderate Buy” and an average target price of $26.71.

Regions Financial Company Profile

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.