Regions Financial Co. (NYSE:RF) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in shares of Regions Financial Co. (NYSE:RF) by 91.4% during the second quarter, Holdings Channel.com reports. The fund owned 36,882 shares of the bank’s stock after selling 393,978 shares during the period. Assenagon Asset Management S.A.’s holdings in Regions Financial were worth $739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RF. International Assets Investment Management LLC raised its stake in shares of Regions Financial by 1,620.5% in the 4th quarter. International Assets Investment Management LLC now owns 93,818 shares of the bank’s stock worth $1,818,000 after buying an additional 88,365 shares in the last quarter. Federated Hermes Inc. raised its position in Regions Financial by 23.6% in the fourth quarter. Federated Hermes Inc. now owns 8,681 shares of the bank’s stock worth $168,000 after acquiring an additional 1,659 shares in the last quarter. CWM LLC lifted its holdings in Regions Financial by 43.8% in the 4th quarter. CWM LLC now owns 40,581 shares of the bank’s stock valued at $786,000 after acquiring an additional 12,364 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Regions Financial by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,617 shares of the bank’s stock valued at $70,000 after purchasing an additional 1,279 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Regions Financial in the 4th quarter worth approximately $166,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Up 2.9 %

Regions Financial stock opened at $22.81 on Friday. The firm’s 50 day moving average price is $20.83 and its two-hundred day moving average price is $19.81. The firm has a market cap of $20.89 billion, a PE ratio of 12.40, a P/E/G ratio of 2.77 and a beta of 1.18. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $22.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 earnings per share. On average, research analysts predict that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.38%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s payout ratio is currently 54.35%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Friday. Royal Bank of Canada raised their price objective on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Citigroup boosted their target price on Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods decreased their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Finally, Truist Financial boosted their price objective on Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.51.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.