Regions Financial Co. (NYSE:RF) Position Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in Regions Financial Co. (NYSE:RF - Free Report) by 91.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,882 shares of the bank's stock after selling 393,978 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Regions Financial were worth $739,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RF. EntryPoint Capital LLC acquired a new position in shares of Regions Financial during the first quarter worth about $26,000. Laurel Wealth Advisors LLC grew its position in shares of Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank's stock worth $27,000 after buying an additional 649 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Regions Financial during the fourth quarter worth about $28,000. Glassman Wealth Services lifted its stake in Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank's stock worth $30,000 after purchasing an additional 967 shares during the last quarter. Finally, MV Capital Management Inc. lifted its stake in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank's stock worth $30,000 after purchasing an additional 618 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RF. Royal Bank of Canada boosted their target price on Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. Bank of America boosted their target price on Regions Financial from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, July 22nd. Evercore ISI decreased their target price on Regions Financial from $22.00 to $21.00 and set an "in-line" rating for the company in a research note on Tuesday, June 25th. Wells Fargo & Company boosted their target price on Regions Financial from $18.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods decreased their target price on Regions Financial from $22.00 to $21.00 and set a "market perform" rating for the company in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $21.51.

Regions Financial Stock Performance

Shares of Regions Financial stock traded up $0.65 during trading hours on Friday, hitting $22.81. 10,817,689 shares of the company were exchanged, compared to its average volume of 8,055,935. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $22.99. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average of $20.83 and a 200-day moving average of $19.82. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 2.77 and a beta of 1.18.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company's quarterly revenue was down 11.5% compared to the same quarter last year. As a group, analysts expect that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Regions Financial's previous quarterly dividend of $0.24. Regions Financial's dividend payout ratio is 54.35%.

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.