Munich Reinsurance Co Stock Corp in Munich Purchases New Stake in Regions Financial Corporation $RF

Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of Regions Financial Corporation (NYSE:RF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,061,010 shares of the bank’s stock, valued at approximately $54,349,000. Munich Reinsurance Co Stock Corp in Munich owned about 0.24% of Regions Financial at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Regions Financial by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank’s stock worth $740,511,000 after acquiring an additional 391,568 shares in the last quarter. Geode Capital Management LLC boosted its stake in Regions Financial by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 23,794,677 shares of the bank’s stock valued at $557,370,000 after purchasing an additional 109,549 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Regions Financial by 52.9% during the 3rd quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock worth $357,417,000 after purchasing an additional 4,679,285 shares in the last quarter. Norges Bank purchased a new stake in shares of Regions Financial in the second quarter worth approximately $246,790,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Regions Financial by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after purchasing an additional 233,458 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the transaction, the executive vice president directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

RF has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Evercore lowered shares of Regions Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Barclays raised their price target on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $31.00 price objective on shares of Regions Financial in a research report on Tuesday, January 20th. Finally, Morgan Stanley set a $31.00 price objective on shares of Regions Financial in a research note on Monday, January 19th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.97.

Regions Financial Trading Down 2.6%

Shares of Regions Financial stock opened at $27.03 on Friday. The firm has a market cap of $23.34 billion, a PE ratio of 11.80, a P/E/G ratio of 0.98 and a beta of 1.02. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $31.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a fifty day moving average price of $28.69 and a 200-day moving average price of $26.88.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm posted $0.56 earnings per share. Regions Financial’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 10th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the bank to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board 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. Investors of record on Monday, March 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s payout ratio is 46.29%.

Regions Financial 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.