Erste Asset Management GmbH Has $17.42 Million Holdings in Regions Financial Corporation $RF

Key Points

• Erste Asset Management increased its stake in Regions Financial by 58.4% in the fourth quarter, ending with 635,240 shares worth about $17.4 million.
• Regions Financial reported Q1 earnings of $0.62 per share, slightly beating expectations, while revenue came in at $1.87 billion, below analyst estimates but still up 5.0% year over year.
• The bank declared a quarterly dividend of $0.265 per share payable July 1, implying an annualized yield of about 3.7%; analysts currently rate the stock a consensus Hold with an average target price of $30.47.

Erste Asset Management GmbH raised its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 58.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 635,240 shares of the bank's stock after acquiring an additional 234,306 shares during the quarter. Erste Asset Management GmbH owned about 0.07% of Regions Financial worth $17,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new stake in Regions Financial in the 2nd quarter valued at about $25,000. SouthState Bank Corp boosted its stake in shares of Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock valued at $30,000 after purchasing an additional 538 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock valued at $32,000 after purchasing an additional 557 shares during the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock valued at $32,000 after purchasing an additional 854 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Regions Financial in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Up 0.2%

Regions Financial stock opened at $28.59 on Tuesday. The company's 50 day simple moving average is $27.54 and its 200 day simple moving average is $27.54. Regions Financial Corporation has a fifty-two week low of $21.40 and a fifty-two week high of $31.53. The firm has a market capitalization of $24.39 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the firm earned $0.54 EPS. Regions Financial's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 annualized dividend and a yield of 3.7%. Regions Financial's dividend payout ratio (DPR) is presently 44.17%.

Insiders Place Their Bets

In related news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. DA Davidson raised their target price on shares of Regions Financial from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Piper Sandler reduced their target price on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, March 30th. Morgan Stanley reduced their target price on shares of Regions Financial from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. JPMorgan Chase & Co. reduced their target price 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. Finally, Brean Capital assumed coverage on shares of Regions Financial in a research note on Thursday, March 12th. They issued a "neutral" rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $30.47.

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.

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