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

Assenagon Asset Management S.A. lifted its position in Regions Financial Co. (NYSE:RF) by 2,309.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 653,963 shares of the bank’s stock after buying an additional 626,820 shares during the period. Assenagon Asset Management S.A.’s holdings in Regions Financial were worth $15,381,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quarry LP boosted its holdings in Regions Financial by 29.5% in the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock worth $40,000 after acquiring an additional 394 shares in the last quarter. Private Advisor Group LLC grew its position in Regions Financial by 1.8% during the 3rd quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock worth $581,000 after purchasing an additional 429 shares during the last quarter. CWM LLC grew its position in Regions Financial by 1.1% during the 3rd quarter. CWM LLC now owns 42,346 shares of the bank’s stock worth $988,000 after purchasing an additional 480 shares during the last quarter. Resonant Capital Advisors LLC increased its stake in Regions Financial by 2.4% during the 3rd quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after purchasing an additional 506 shares in the last quarter. Finally, Centaurus Financial Inc. raised its holdings in shares of Regions Financial by 5.9% in the third quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank’s stock worth $228,000 after buying an additional 540 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Evercore ISI lifted their price target on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded 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 research report on Thursday, October 24th. Piper Sandler raised their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, Citigroup raised their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Stock Performance

NYSE RF opened at $24.24 on Friday. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 2.21 and a beta of 1.21. The stock has a 50-day moving average of $25.11 and a 200 day moving average of $23.37. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Regions Financial Co. has a twelve month low of $17.42 and a twelve month high of $27.96.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1,857,300 billion. During the same period in the prior year, the company posted $0.39 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts anticipate that Regions Financial Co. will post 2.07 EPS for the current fiscal year.

Regions Financial 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.