Regions Financial Co. (NYSE:RF) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale increased its holdings in Regions Financial Co. (NYSE:RF) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 277,006 shares of the bank’s stock after buying an additional 4,963 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Regions Financial were worth $6,367,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Regions Financial by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,822,420 shares of the bank’s stock valued at $59,384,000 after buying an additional 171,280 shares during the last quarter. Norden Group LLC acquired a new stake in Regions Financial during the first quarter worth about $459,000. First Trust Direct Indexing L.P. acquired a new position in Regions Financial in the first quarter valued at approximately $204,000. J.W. Cole Advisors Inc. boosted its position in Regions Financial by 6.0% in the 1st quarter. J.W. Cole Advisors Inc. now owns 25,359 shares of the bank’s stock worth $534,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Regions Financial by 49.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 479,770 shares of the bank’s stock worth $9,847,000 after purchasing an additional 158,215 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on RF shares. Wedbush boosted their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Truist Financial increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Barclays lifted their price target on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Citigroup increased their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $24.00 to $26.00 in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.45.

Regions Financial Trading Down 0.8 %

Shares of Regions Financial stock opened at $23.87 on Friday. Regions Financial Co. has a 1-year low of $14.27 and a 1-year high of $24.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $21.84 billion, a P/E ratio of 13.49, a P/E/G ratio of 2.54 and a beta of 1.17. The stock’s 50 day simple moving average is $23.07 and its 200-day simple moving average is $21.11.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the company earned $0.49 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts predict that Regions Financial Co. will post 2.05 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Regions Financial 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.