Regions Financial Corporation $RF Shares Purchased by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG raised its position in Regions Financial Corporation (NYSE:RF - Free Report) by 48.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 394,913 shares of the bank's stock after acquiring an additional 129,166 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Regions Financial were worth $11,926,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Regions Financial in the 4th quarter valued at about $254,564,000. Victory Capital Management Inc. increased its stake in Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock valued at $618,860,000 after purchasing an additional 9,312,449 shares during the last quarter. Bank of America Corp DE acquired a new stake in Regions Financial during the second quarter worth approximately $219,068,000. First Trust Advisors LP raised its holdings in Regions Financial by 75.7% during the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank's stock worth $348,936,000 after purchasing an additional 5,754,487 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Regions Financial during the 2nd quarter worth approximately $163,654,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Stock Performance

NYSE RF opened at $29.95 on Thursday. The firm has a market cap of $25.52 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.20 and a beta of 0.99. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The business's 50-day moving average price is $30.88 and its 200 day moving average price is $28.78. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business earned $0.60 EPS. The firm's revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This is a boost from Regions Financial's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. Regions Financial's dividend payout ratio (DPR) is 48.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Regions Financial from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Robert W. Baird reissued an "underperform" rating and issued a $28.00 target price on shares of Regions Financial in a report on Monday, July 6th. Stephens started coverage on Regions Financial in a research report on Monday, June 15th. They issued an "equal weight" rating and a $31.00 target price for the company. Truist Financial raised their price target on Regions Financial from $30.00 to $34.00 and gave the stock a "hold" rating in a research note on Tuesday, July 21st. Finally, Evercore reaffirmed an "underperform" rating and set a $31.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $32.24.

About Regions Financial

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.

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Corporation (NYSE:RF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source