Erste Asset Management GmbH Buys 234,306 Shares of Regions Financial Corporation $RF

Erste Asset Management GmbH raised its stake in Regions Financial Corporation (NYSE:RF) by 58.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 635,240 shares of the bank’s stock after buying an additional 234,306 shares during the quarter. Erste Asset Management GmbH’s holdings in Regions Financial were worth $17,418,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Root Financial Partners LLC lifted its stake in Regions Financial by 3.9% in the fourth quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after buying an additional 346 shares in the last quarter. Lcnb Corp lifted its stake in Regions Financial by 3.8% in the fourth quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock valued at $291,000 after buying an additional 390 shares in the last quarter. West Paces Advisors Inc. lifted its stake in Regions Financial by 4.0% in the fourth quarter. West Paces Advisors Inc. now owns 10,505 shares of the bank’s stock valued at $285,000 after buying an additional 405 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Regions Financial by 0.6% in the fourth quarter. Park Avenue Securities LLC now owns 79,012 shares of the bank’s stock valued at $2,141,000 after buying an additional 443 shares in the last quarter. Finally, Southeast Asset Advisors LLC lifted its stake in Regions Financial by 0.5% in the third quarter. Southeast Asset Advisors LLC now owns 103,704 shares of the bank’s stock valued at $2,735,000 after buying an additional 474 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on RF. JPMorgan Chase & Co. cut their price target on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Brean Capital started coverage on shares of Regions Financial in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. DA Davidson lifted their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a report on Monday, April 20th. Morgan Stanley lowered their price objective on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Finally, Piper Sandler lowered their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, March 30th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.47.

Regions Financial Price Performance

Shares of RF opened at $28.59 on Tuesday. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.11 and a beta of 1.00. Regions Financial Corporation has a 1-year low of $21.40 and a 1-year high of $31.53. The company’s fifty day simple moving average is $27.54 and its 200 day simple moving average is $27.54. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 earnings per share. On average, research analysts forecast that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed 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 dividend yield of 3.7%. The ex-dividend date is Monday, June 1st. Regions Financial’s payout ratio is currently 44.17%.

Regions Financial Company 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.