Munich Reinsurance Co Stock Corp in Munich Acquires Shares of 2,061,010 Regions Financial Corporation $RF

Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of Regions Financial Corporation (NYSE:RF) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,061,010 shares of the bank’s stock, valued at approximately $54,349,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial during the 2nd quarter valued at approximately $25,000. United Community Bank bought a new position in Regions Financial in the 3rd quarter worth approximately $30,000. Salomon & Ludwin LLC purchased a new position in Regions Financial in the 3rd quarter valued at approximately $32,000. Elevation Point Wealth Partners LLC bought a new stake in Regions Financial during the 2nd quarter valued at $33,000. Finally, Clearstead Trust LLC lifted its position in shares of Regions Financial by 574.5% during the second quarter. Clearstead Trust LLC now owns 1,430 shares of the bank’s stock worth $34,000 after acquiring an additional 1,218 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. This represents a 67.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

Regions Financial Stock Performance

Shares of RF opened at $27.03 on Friday. The company has a market cap of $23.34 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $28.69 and a 200-day moving average price of $26.88. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $31.53.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. As a group, equities analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 10th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s payout ratio is currently 46.29%.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $32.00 price objective on shares of Regions Financial in a research note on Tuesday. Wall Street Zen lowered Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Barclays increased their price target on shares of Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Piper Sandler boosted their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Finally, Wells Fargo & Company cut shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a research note on Friday, January 16th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus target price of $29.97.

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.