MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases Shares of 1,607,823 Regions Financial Co. (NYSE:RF)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Regions Financial Co. (NYSE:RF) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 1,607,823 shares of the bank’s stock, valued at approximately $33,829,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. lifted its position in shares of Regions Financial by 16.5% during the fourth quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock valued at $75,000 after purchasing an additional 549 shares in the last quarter. CWM LLC increased its holdings in Regions Financial by 1.4% during the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after buying an additional 556 shares during the last quarter. Signet Financial Management LLC increased its holdings in Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after buying an additional 584 shares during the last quarter. Pinnacle Financial Partners Inc increased its holdings in Regions Financial by 0.4% during the fourth quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank’s stock worth $2,797,000 after buying an additional 606 shares during the last quarter. Finally, Laurel Wealth Advisors LLC increased its holdings in Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after buying an additional 649 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RF shares. Piper Sandler raised their price objective 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. Morgan Stanley decreased their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Truist Financial decreased their price objective 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. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $20.00 to $23.00 in a report on Monday, March 18th. Finally, StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus target price of $20.28.

Regions Financial Price Performance

NYSE:RF traded up $0.19 during mid-day trading on Tuesday, hitting $20.09. 6,423,210 shares of the stock traded hands, compared to its average volume of 8,061,874. The company 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 quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $21.08. The business’s 50-day moving average price is $19.30 and its 200 day moving average price is $19.18.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The business 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 company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share. On average, analysts expect that Regions Financial Co. will post 1.96 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.24 dividend. The ex-dividend date of this dividend 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 52.17%.

Insider Transactions at Regions Financial

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

Regions Financial 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.