Erste Asset Management GmbH Purchases New Shares in Regions Financial Co. (NYSE:RF)

Erste Asset Management GmbH bought a new stake in Regions Financial Co. (NYSE:RF - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 358,511 shares of the bank's stock, valued at approximately $8,274,000.

Other institutional investors have also recently added to or reduced their stakes in the company. American National Bank & Trust grew its stake in shares of Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock worth $27,000 after acquiring an additional 1,114 shares in the last quarter. Quarry LP grew its stake in shares of Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank's stock worth $27,000 after acquiring an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock worth $30,000 after acquiring an additional 1,256 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Regions Financial in the second quarter worth $32,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Regions Financial in the second quarter worth $33,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Trading Down 1.6 %

Shares of RF traded down $0.42 on Monday, hitting $26.59. 2,533,057 shares of the stock traded hands, compared to its average volume of 7,883,432. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $24.17 billion, a P/E ratio of 15.02, a P/E/G ratio of 2.82 and a beta of 1.16. The stock's 50 day moving average is $24.50 and its two-hundred day moving average is $22.11. Regions Financial Co. has a 1 year low of $16.86 and a 1 year high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. As a group, sell-side analysts predict that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial's dividend payout ratio is currently 56.50%.

Wall Street Analysts Forecast Growth

RF has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. DA Davidson upped their target price on shares of Regions Financial from $27.00 to $29.00 and gave the company a "buy" rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a "hold" rating to a "buy" rating and upped their target price for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Citigroup boosted their price target on shares of Regions Financial from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Finally, Argus upgraded shares of Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Regions Financial currently has a consensus rating of "Moderate Buy" and an average target price of $26.71.

Regions Financial Company Profile

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.