Erste Asset Management GmbH Lowers Stake in Regions Financial Co. (NYSE:RF)

Erste Asset Management GmbH cut its position in shares of Regions Financial Co. (NYSE:RF) by 34.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 234,639 shares of the bank’s stock after selling 123,872 shares during the quarter. Erste Asset Management GmbH’s holdings in Regions Financial were worth $5,565,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Citigroup Inc. increased its position in Regions Financial by 20.0% during the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after purchasing an additional 253,708 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Regions Financial in the fourth quarter worth $1,965,000. Aprio Wealth Management LLC acquired a new stake in shares of Regions Financial in the fourth quarter worth $1,247,000. Nordea Investment Management AB raised its stake in shares of Regions Financial by 60.4% in the 4th quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock valued at $6,220,000 after acquiring an additional 99,115 shares during the period. Finally, Commerce Bank lifted its holdings in shares of Regions Financial by 392.5% during the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock valued at $5,793,000 after acquiring an additional 197,900 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson bought 2,300 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 4,523 shares of company stock worth $102,269 in the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE:RF opened at $21.45 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $23.67 and its two-hundred day moving average is $23.99. The firm has a market capitalization of $19.42 billion, a P/E ratio of 11.05, a PEG ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a 52 week low of $17.72 and a 52 week high of $27.96.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.39 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.66%. The ex-dividend date is Monday, March 3rd. Regions Financial’s payout ratio is currently 51.55%.

Analyst Ratings Changes

RF has been the subject of several recent research reports. Citigroup lowered their price target on Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. Compass Point increased their target price on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group boosted their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays increased their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

About Regions Financial

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.