Assenagon Asset Management S.A. Boosts Stock Position in Regions Financial Co. (NYSE:RF)

Assenagon Asset Management S.A. grew its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 2,309.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 653,963 shares of the bank's stock after acquiring an additional 626,820 shares during the period. Assenagon Asset Management S.A. owned about 0.07% of Regions Financial worth $15,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp raised its position in shares of Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank's stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Regions Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank's stock valued at $648,269,000 after buying an additional 816,226 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank's stock valued at $526,118,000 after buying an additional 315,605 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Regions Financial by 13.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank's stock worth $201,238,000 after buying an additional 1,014,706 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Regions Financial by 0.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank's stock worth $191,921,000 after acquiring an additional 61,426 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of NYSE RF traded down $0.29 during midday trading on Friday, hitting $24.24. 15,241,466 shares of the stock traded hands, compared to its average volume of 7,264,528. The firm has a market capitalization of $22.03 billion, a P/E ratio of 13.69, a PEG ratio of 2.21 and a beta of 1.21. Regions Financial Co. has a one year low of $17.42 and a one year high of $27.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a 50-day moving average of $25.11 and a two-hundred day moving average of $23.39.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,857,300 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. Regions Financial's revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. On average, equities analysts forecast that Regions Financial Co. will post 2.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on RF. Wells Fargo & Company boosted their price objective on shares of Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised Regions Financial from a "hold" rating to a "buy" rating and boosted their price target for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. Compass Point raised their price objective on Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Stephens raised Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 target price on the stock in a report on Tuesday, October 29th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $32.00 target price (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Regions Financial presently has an average rating of "Moderate Buy" and a consensus target price of $27.67.

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.