Assenagon Asset Management S.A. Boosts Stock Holdings in Regions Financial Co. (NYSE:RF)

Assenagon Asset Management S.A. raised its holdings in Regions Financial Co. (NYSE:RF) by 776.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 941,425 shares of the bank’s stock after purchasing an additional 834,018 shares during the period. Assenagon Asset Management S.A. owned 0.10% of Regions Financial worth $18,245,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Kingswood Wealth Advisors LLC purchased a new position in shares of Regions Financial in the fourth quarter worth about $583,000. Pacer Advisors Inc. increased its stake in shares of Regions Financial by 6.4% in the fourth quarter. Pacer Advisors Inc. now owns 62,734 shares of the bank’s stock worth $1,216,000 after purchasing an additional 3,759 shares in the last quarter. Bangor Savings Bank increased its stake in shares of Regions Financial by 1.5% in the fourth quarter. Bangor Savings Bank now owns 45,952 shares of the bank’s stock worth $891,000 after purchasing an additional 667 shares in the last quarter. Patton Fund Management Inc. increased its stake in shares of Regions Financial by 10.7% in the fourth quarter. Patton Fund Management Inc. now owns 16,256 shares of the bank’s stock worth $315,000 after purchasing an additional 1,574 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Regions Financial by 2.6% in the fourth quarter. SG Americas Securities LLC now owns 25,569 shares of the bank’s stock worth $496,000 after purchasing an additional 654 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 3.9 %

Shares of RF opened at $20.69 on Thursday. The firm has a market cap of $19.01 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.44 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.02. The firm has a 50 day moving average price of $18.88 and a 200-day moving average price of $17.71.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 19th. The bank reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The company’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share. As a group, equities research analysts forecast that Regions Financial Co. will post 1.98 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Thursday, February 29th. Regions Financial’s payout ratio is 45.93%.

Analyst Ratings Changes

A number of research firms have recently commented on RF. Stephens restated an “equal weight” rating and issued a $21.00 price objective on shares of Regions Financial in a research report on Tuesday, January 23rd. Truist Financial raised their price objective on shares of Regions Financial from $15.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, December 15th. Morgan Stanley raised their price objective on shares of Regions Financial from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Evercore ISI restated an “inline” rating and issued a $21.00 price objective (up from $16.50) on shares of Regions Financial in a research report on Wednesday, January 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Regions Financial currently has a consensus rating of “Hold” and an average price target of $20.23.

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.