denkapparat Operations GmbH Makes New $634,000 Investment in Regions Financial Corporation $RF

denkapparat Operations GmbH acquired a new stake in Regions Financial Corporation (NYSE:RF) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 24,032 shares of the bank’s stock, valued at approximately $634,000.

Several other large investors also recently modified their holdings of RF. GAM Holding AG acquired a new position in Regions Financial during the third quarter valued at approximately $1,760,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Regions Financial by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after buying an additional 233,458 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Regions Financial by 6.8% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock worth $18,204,000 after buying an additional 44,252 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in shares of Regions Financial during the 3rd quarter worth $1,378,000. Finally, Teacher Retirement System of Texas boosted its stake in Regions Financial by 111.2% in the third quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock valued at $7,662,000 after buying an additional 152,987 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

RF has been the subject of several research analyst reports. UBS Group reissued a “neutral” rating and set a $30.00 target price on shares of Regions Financial in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Wall Street Zen lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Evercore cut shares of Regions Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research note on Monday, February 9th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.84.

Regions Financial Price Performance

RF stock opened at $29.73 on Monday. The company has a market capitalization of $26.07 billion, a P/E ratio of 12.98, a PEG ratio of 1.05 and a beta of 1.04. The company has a fifty day moving average price of $28.29 and a 200-day moving average price of $26.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $31.53.

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

Regions Financial announced that its board has authorized 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 repurchase up to 12.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 annualized dividend and a dividend yield of 3.6%. Regions Financial’s dividend payout ratio is presently 46.29%.

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.