Deutsche Bank AG Trims Position in Regions Financial Corporation (NYSE:RF)

Key Points

• Deutsche Bank AG reduced its stake in Regions Financial Corporation by 13.8%, selling 760,546 shares in the first quarter, leaving it with a total of 4,762,066 shares valued at approximately $103.48 million.
• Regions Financial announced an increase in its quarterly dividend from $0.25 to $0.265, representing a 4.3% yield, with the payout date set for October 1st.
• Analysts have given Regions Financial a consensus rating of "Moderate Buy" with a target price of $27.33, reflecting mixed opinions among analysts on the stock's future performance.

Deutsche Bank AG lessened its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 13.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,762,066 shares of the bank's stock after selling 760,546 shares during the quarter. Deutsche Bank AG owned 0.53% of Regions Financial worth $103,480,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Foster Victor Wealth Advisors LLC raised its stake in shares of Regions Financial by 5.4% in the first quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank's stock worth $6,606,000 after buying an additional 15,652 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Regions Financial by 0.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank's stock worth $52,762,000 after buying an additional 21,169 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Regions Financial by 13.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank's stock worth $3,424,000 after buying an additional 18,684 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of Regions Financial by 62.4% in the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock worth $440,000 after buying an additional 7,822 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Regions Financial in the first quarter worth about $272,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RF shares. Truist Financial reiterated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Keefe, Bruyette & Woods increased their target price on Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Wall Street Zen upgraded Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Citigroup increased their target price on Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Jefferies Financial Group started coverage on Regions Financial in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Regions Financial presently has an average rating of "Moderate Buy" and a consensus target price of $27.33.

Insider Activity

In other news, EVP David R. Keenan sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the sale, the executive vice president directly owned 90,915 shares of the company's stock, valued at $2,273,784.15. This trade represents a 24.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

Regions Financial Stock Performance

NYSE RF opened at $24.92 on Friday. The stock has a market capitalization of $22.24 billion, a PE ratio of 11.59, a P/E/G ratio of 1.43 and a beta of 1.01. The business has a 50 day simple moving average of $23.90 and a two-hundred day simple moving average of $22.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. On average, research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's dividend payout ratio is 46.51%.

About Regions Financial

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.

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