MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Invests $33.83 Million in Regions Financial Co. (NYSE:RF)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Regions Financial Co. (NYSE:RF) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 1,607,823 shares of the bank’s stock, valued at approximately $33,829,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned 0.17% of Regions Financial as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Regions Financial in the fourth quarter worth $210,379,000. Wellington Management Group LLP raised its stake in shares of Regions Financial by 8.4% in the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after purchasing an additional 4,160,768 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Regions Financial in the third quarter worth about $17,376,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Regions Financial in the third quarter valued at about $16,046,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RF shares. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Piper Sandler increased their target price on shares of Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Truist Financial decreased their price target on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Evercore ISI dropped their price objective on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Finally, Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $23.00 in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.28.

Insider Activity at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was bought at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP William D. Ritter sold 23,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE RF traded up $0.19 during mid-day trading on Tuesday, reaching $20.09. 6,423,210 shares of the company traded hands, compared to its average volume of 8,061,874. The firm has a market cap of $18.40 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 2.19 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The stock has a fifty day simple moving average of $19.30 and a 200-day simple moving average of $19.18.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. Equities research analysts anticipate that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.78%. Regions Financial’s payout ratio is currently 52.17%.

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.