Regions Financial Corporation $RF Stock Holdings Raised by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly increased its holdings in Regions Financial Corporation by 1,211.3%, owning 331,000 shares valued at approximately $7.78 million following substantial purchases during the 2nd quarter.
• The company recently reported a quarterly EPS of $0.60, exceeding analyst estimates, and announced an increase in its quarterly dividend to $0.265, presenting a 4.0% dividend yield.
• Regions Financial has received positive ratings from various analysts, with Citigroup and Keefe, Bruyette & Woods raising their target prices to as high as $32.00 and $30.00, respectively.

Assenagon Asset Management S.A. raised its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 1,211.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 331,000 shares of the bank's stock after buying an additional 305,758 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Regions Financial were worth $7,785,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bayforest Capital Ltd increased its holdings in shares of Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after acquiring an additional 1,058 shares during the period. Rossby Financial LCC acquired a new position in Regions Financial during the 1st quarter worth $36,000. Groupe la Francaise bought a new position in shares of Regions Financial in the first quarter worth $41,000. Grove Bank & Trust raised its holdings in Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after purchasing an additional 814 shares in the last quarter. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Regions Financial during the 1st quarter valued at about $58,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Trading Up 0.6%

Shares of Regions Financial stock opened at $26.72 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The company's fifty day moving average price is $26.23 and its two-hundred day moving average price is $23.20. The firm has a market capitalization of $23.84 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.53 and a beta of 1.02. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.86 billion. During the same period in the prior year, the firm posted $0.52 EPS. Regions Financial's quarterly revenue was up 10.1% compared to the same quarter last year. On average, analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. Regions Financial's dividend payout ratio is 49.30%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RF shares. Citigroup boosted their target price on shares of Regions Financial from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday. Morgan Stanley boosted their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Barclays reiterated an "underweight" rating and issued a $27.00 price objective (up previously from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Keefe, Bruyette & Woods lifted their target price on shares of Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, Cantor Fitzgerald initiated coverage on shares of Regions Financial in a report on Wednesday, September 10th. They issued an "overweight" rating and a $30.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.58.

Insider Transactions at Regions Financial

In related news, Director Roger W. Jenkins purchased 4,000 shares of Regions Financial stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the transaction, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. This represents a 167.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David R. Keenan sold 30,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president directly owned 90,915 shares in the company, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

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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