Assenagon Asset Management S.A. Increases Stock Position in Regions Financial Corporation $RF

Assenagon Asset Management S.A. raised its stake in shares of Regions Financial Corporation (NYSE:RF) by 52.1% in the 1st quarter, HoldingsChannel reports. The firm owned 644,404 shares of the bank’s stock after purchasing an additional 220,636 shares during the period. Assenagon Asset Management S.A.’s holdings in Regions Financial were worth $16,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Miller Howard Investments Inc. NY lifted its holdings in shares of Regions Financial by 0.3% during the 1st quarter. Miller Howard Investments Inc. NY now owns 1,589,537 shares of the bank’s stock worth $41,519,000 after acquiring an additional 5,428 shares during the last quarter. Centennial Wealth Advisory LLC boosted its holdings in shares of Regions Financial by 18.7% in the 1st quarter. Centennial Wealth Advisory LLC now owns 30,640 shares of the bank’s stock worth $800,000 after purchasing an additional 4,827 shares in the last quarter. Cidel Asset Management Inc. bought a new position in shares of Regions Financial during the 1st quarter valued at about $222,000. Signal Advisors Wealth LLC increased its position in shares of Regions Financial by 103.4% during the 1st quarter. Signal Advisors Wealth LLC now owns 20,432 shares of the bank’s stock valued at $534,000 after purchasing an additional 10,387 shares during the last quarter. Finally, SVB Wealth LLC raised its holdings in shares of Regions Financial by 7.9% during the 1st quarter. SVB Wealth LLC now owns 173,913 shares of the bank’s stock valued at $4,543,000 after buying an additional 12,782 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank Of Canada increased their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Brean Capital initiated coverage on shares of Regions Financial in a report on Thursday, March 12th. They issued a “neutral” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. reduced their target price on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Piper Sandler decreased their target price on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.73.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Regions Financial Trading Up 0.4%

NYSE:RF opened at $30.09 on Friday. The firm has a market capitalization of $25.68 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.14 and a beta of 1.00. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $28.16 and a 200 day moving average of $27.89. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $31.53.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 earnings per share. On average, research analysts predict that Regions Financial Corporation will post 2.6 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, June 1st. Regions Financial’s payout ratio is currently 44.17%.

Regions Financial Company Profile

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.