Deutsche Bank AG Increases Stock Position in Regions Financial Corporation $RF

Deutsche Bank AG increased its stake in Regions Financial Corporation (NYSE:RF) by 2.4% in the second quarter, Holdings Channel reports. The institutional investor owned 4,759,842 shares of the bank’s stock after acquiring an additional 110,933 shares during the quarter. Deutsche Bank AG’s holdings in Regions Financial were worth $143,747,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in Regions Financial by 8.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock worth $63,645,000 after buying an additional 165,527 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in shares of Regions Financial by 244.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock valued at $61,135,000 after acquiring an additional 1,600,926 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Regions Financial during the 4th quarter valued at $1,939,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Regions Financial by 3.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock worth $51,247,000 after acquiring an additional 69,191 shares during the period. Finally, Royal Palms Capital LLC acquired a new position in shares of Regions Financial in the 4th quarter worth approximately $4,137,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RF. Evercore reissued an “underperform” rating and set a $31.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. Morgan Stanley upped their target price on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 target price on shares of Regions Financial in a report on Friday, July 17th. Stephens started coverage on Regions Financial in a research report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average price target of $32.24.

Regions Financial Trading Down 3.4%

Shares of RF opened at $30.61 on Thursday. The stock’s fifty day simple moving average is $30.61 and its 200-day simple moving average is $28.78. The firm has a market capitalization of $26.08 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 1.21 and a beta of 1.00. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47. 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) last issued its earnings results 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 net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, research analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 3.9%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is presently 43.27%.

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.