denkapparat Operations GmbH Purchases Shares of 24,032 Regions Financial Corporation $RF

denkapparat Operations GmbH purchased a new position in shares of Regions Financial Corporation (NYSE:RF) in the third quarter, HoldingsChannel.com reports. The firm purchased 24,032 shares of the bank’s stock, valued at approximately $634,000.

Several other hedge funds have also recently made changes to their positions in RF. GAM Holding AG acquired a new stake in Regions Financial during the third quarter worth approximately $1,760,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Regions Financial by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after buying an additional 233,458 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in shares of Regions Financial by 6.8% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock worth $18,204,000 after buying an additional 44,252 shares during the period. iA Global Asset Management Inc. bought a new stake in shares of Regions Financial in the 3rd quarter valued at $1,378,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Regions Financial by 111.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock valued at $7,662,000 after acquiring an additional 152,987 shares during the period. 79.39% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the transaction, the executive vice president directly owned 17,569 shares of the company’s stock, valued at $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RF has been the subject of a number of research reports. UBS Group restated a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a report on Wednesday, February 4th. The Goldman Sachs Group restated a “buy” rating and issued a $32.00 target price on shares of Regions Financial in a research note on Tuesday, January 6th. Wall Street Zen lowered Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Finally, Barclays raised their price objective on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.84.

Regions Financial Price Performance

RF stock opened at $29.73 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50-day simple moving average of $28.29 and a two-hundred day simple moving average of $26.54. The company has a market capitalization of $26.07 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $31.53.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial declared that its board has approved a stock buyback program on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s payout ratio is currently 46.29%.

Regions Financial Company 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.