Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its stake in shares of Regions Financial Corp (NYSE:RF) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,133 shares of the bank’s stock after acquiring an additional 1,991 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Regions Financial were worth $1,156,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Regions Financial by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 15,010,538 shares of the bank’s stock valued at $200,519,000 after acquiring an additional 432,350 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Regions Financial by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,604,931 shares of the bank’s stock worth $195,420,000 after buying an additional 286,879 shares in the last quarter. Northern Trust Corp increased its holdings in Regions Financial by 0.8% in the 1st quarter. Northern Trust Corp now owns 12,774,641 shares of the bank’s stock worth $180,761,000 after buying an additional 99,218 shares in the last quarter. Bank of Montreal Can increased its holdings in Regions Financial by 7.4% in the 1st quarter. Bank of Montreal Can now owns 11,410,552 shares of the bank’s stock worth $161,460,000 after buying an additional 786,118 shares in the last quarter. Finally, Norges Bank bought a new stake in Regions Financial in the 4th quarter worth about $146,362,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.
NYSE:RF traded up $0.21 on Friday, hitting $15.93. The stock had a trading volume of 267,791 shares, compared to its average volume of 10,269,160. The stock has a market cap of $16.16 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.46 and a beta of 1.50. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $14.82. Regions Financial Corp has a 52-week low of $12.39 and a 52-week high of $19.99.
Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Regions Financial had a return on equity of 10.86% and a net margin of 26.43%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts forecast that Regions Financial Corp will post 1.56 EPS for the current fiscal year.
Regions Financial declared that its board has authorized a share buyback plan on Thursday, June 27th that authorizes the company to buyback $1.37 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.155 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.14. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, September 5th. Regions Financial’s payout ratio is presently 41.18%.
Several equities research analysts recently commented on RF shares. UBS Group set a $169.00 price objective on M&T Bank and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Bank of America set a $97.00 price objective on Merck & Co., Inc. and gave the stock a “buy” rating in a report on Thursday, July 11th. Raymond James reiterated a “buy” rating on shares of West Fraser Timber in a report on Monday, April 22nd. Wedbush reiterated a “buy” rating and issued a $1,350.00 price objective on shares of Alphabet in a report on Monday. Finally, ValuEngine downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $17.47.
Regions Financial Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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