MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 325,997 Shares of Regions Financial Corporation $RF

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Regions Financial Corporation by 20.3%, buying an additional 325,997 shares during the second quarter, bringing its total ownership to approximately 1.93 million shares valued at $45.41 million.
• Regions Financial recently increased its quarterly dividend from $0.25 to $0.265, yielding about 4.0% annually, with a payout ratio of 49.30%.
• The bank's Q2 earnings exceeded expectations, reporting $0.60 earnings per share against a predicted $0.56, alongside a revenue increase of 10.1% year-over-year to $1.91 billion.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 20.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,930,680 shares of the bank's stock after purchasing an additional 325,997 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned approximately 0.21% of Regions Financial worth $45,410,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Foster Victor Wealth Advisors LLC lifted its position in Regions Financial by 5.4% during the first quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank's stock valued at $6,606,000 after purchasing an additional 15,652 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Regions Financial by 0.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank's stock valued at $52,762,000 after purchasing an additional 21,169 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Regions Financial by 13.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank's stock valued at $3,424,000 after purchasing an additional 18,684 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in Regions Financial by 62.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock valued at $440,000 after purchasing an additional 7,822 shares in the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in Regions Financial during the first quarter valued at $272,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Trading Down 0.3%

RF opened at $26.66 on Thursday. The firm has a market cap of $23.79 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.54 and a beta of 1.02. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $26.28 and a 200 day moving average of $23.22.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.265 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. Regions Financial's dividend payout ratio (DPR) is presently 49.30%.

Wall Street Analyst Weigh In

RF has been the topic of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on Regions Financial in a report on Wednesday, September 10th. They set an "overweight" rating and a $30.00 price target on the stock. Stephens raised their price target on Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods lifted their target price on Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Citigroup lifted their target price on Regions Financial from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.58.

Insider Buying and Selling

In related news, EVP David R. Keenan sold 30,000 shares of the business'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 owned 90,915 shares in the company, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger W. Jenkins purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $25.48 per share, with a total value of $101,920.00. Following the acquisition, the director directly owned 6,383 shares of the company's stock, valued at $162,638.84. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Regions Financial Company 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.

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