Munich Reinsurance Co Stock Corp in Munich Acquires New Stake in Regions Financial Corporation $RF

Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of Regions Financial Corporation (NYSE:RF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,615 shares of the bank’s stock, valued at approximately $894,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after buying an additional 1,278 shares in the last quarter. Woodline Partners LP raised its position in Regions Financial by 40.7% in the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after acquiring an additional 22,216 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Regions Financial by 0.7% in the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after acquiring an additional 511 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Regions Financial by 81.2% in the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after acquiring an additional 5,233 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Regions Financial by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after purchasing an additional 6,690 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

Shares of NYSE:RF opened at $30.44 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $25.93 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47. The firm has a 50 day simple moving average of $30.89 and a 200 day simple moving average of $28.80.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. As a group, research analysts expect that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.9%. Regions Financial’s payout ratio is presently 48.98%.

Wall Street Analysts Forecast Growth

RF has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Evercore restated an “underperform” rating and set a $31.00 target price on shares of Regions Financial in a report on Monday, July 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target on shares of Regions Financial in a report on Friday, July 17th. Stephens started coverage on Regions Financial in a research report on Monday, June 15th. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, UBS Group raised their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.24.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.