Assenagon Asset Management S.A. Acquires 220,636 Shares of Regions Financial Corporation $RF

Assenagon Asset Management S.A. boosted its holdings in Regions Financial Corporation (NYSE:RF) by 52.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 644,404 shares of the bank’s stock after purchasing an additional 220,636 shares during the period. Assenagon Asset Management S.A. owned about 0.07% of Regions Financial worth $16,832,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in Regions Financial in the fourth quarter worth about $254,564,000. Victory Capital Management Inc. grew its position in shares of Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after acquiring an additional 9,312,449 shares during the period. First Trust Advisors LP grew its position in shares of Regions Financial by 118.6% during the 4th quarter. First Trust Advisors LP now owns 7,604,482 shares of the bank’s stock valued at $206,081,000 after acquiring an additional 4,125,776 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Regions Financial by 286.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock worth $106,061,000 after purchasing an additional 2,980,505 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Regions Financial by 151.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock worth $103,886,000 after purchasing an additional 2,371,048 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

RF has been the topic of several research analyst reports. Brean Capital initiated coverage on Regions Financial in a research note on Thursday, March 12th. They issued a “neutral” rating on the stock. DA Davidson raised their target price on Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. lowered their target price on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Piper Sandler dropped their price target on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. Finally, Stephens assumed coverage on Regions Financial in a research report on Monday, June 15th. They set an “equal weight” rating and a $31.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.73.

Insider Activity at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were 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 available through the SEC website. 0.34% of the stock is owned by company insiders.

Regions Financial Stock Up 0.4%

RF stock opened at $30.09 on Friday. The stock has a 50-day simple moving average of $28.16 and a two-hundred day simple moving average of $27.89. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $31.53. The firm has a market capitalization of $25.68 billion, a PE ratio of 12.54, a PEG 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.

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

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s dividend payout ratio (DPR) is presently 44.17%.

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.