Munich Reinsurance Co Stock Corp in Munich Acquires Shares of 29,615 Regions Financial Corporation $RF

Munich Reinsurance Co Stock Corp in Munich bought a new position in Regions Financial Corporation (NYSE:RF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 29,615 shares of the bank’s stock, valued at approximately $894,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Regions Financial during the fourth quarter worth $254,564,000. Victory Capital Management Inc. grew 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 in the last quarter. Nykredit A S acquired a new position in Regions Financial in the 2nd quarter worth about $236,756,000. Bank of America Corp DE purchased a new stake in shares of Regions Financial during the 2nd quarter worth about $219,068,000. Finally, First Trust Advisors LP raised its stake in shares of Regions Financial by 75.7% during the 1st 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. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial boosted their price target on Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Evercore reaffirmed an “underperform” rating and set a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Wells Fargo & Company lifted their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. DA Davidson boosted their target price on shares of Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $34.00 price target on shares of Regions Financial in a research note on Monday, July 20th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $32.24.

Regions Financial Price Performance

Shares of NYSE:RF opened at $30.44 on Friday. The stock has a market capitalization of $25.93 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.25 and a beta of 0.99. The business has a 50-day moving average of $30.89 and a two-hundred day moving average of $28.80. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts predict that Regions Financial Corporation will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.9%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio is 48.98%.

Regions Financial 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.