Allianz Asset Management GmbH Decreases Stock Holdings in Regions Financial Corporation $RF

Allianz Asset Management GmbH decreased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 12.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 862,328 shares of the bank’s stock after selling 124,090 shares during the period. Allianz Asset Management GmbH owned about 0.10% of Regions Financial worth $20,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Callahan Advisors LLC lifted its position in shares of Regions Financial by 3.1% during the 2nd quarter. Callahan Advisors LLC now owns 33,700 shares of the bank’s stock valued at $793,000 after buying an additional 1,000 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Regions Financial by 6.2% during the second quarter. Ritholtz Wealth Management now owns 18,720 shares of the bank’s stock valued at $440,000 after acquiring an additional 1,089 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of Regions Financial by 7.5% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 64,196 shares of the bank’s stock valued at $1,510,000 after acquiring an additional 4,497 shares during the last quarter. Morningstar Investment Management LLC raised its holdings in shares of Regions Financial by 17.5% during the second quarter. Morningstar Investment Management LLC now owns 12,190 shares of the bank’s stock valued at $287,000 after acquiring an additional 1,812 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Regions Financial by 6.1% during the second quarter. Verdence Capital Advisors LLC now owns 28,455 shares of the bank’s stock valued at $669,000 after acquiring an additional 1,637 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director Roger W. Jenkins bought 4,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was bought at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of the purchase, the director directly owned 6,383 shares in the company, valued at $162,638.84. The trade was a 167.86% increase 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. Also, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the sale, the executive vice president directly owned 90,915 shares of the company’s stock, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RF. Citigroup increased their target price on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods increased their target price on Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Regions Financial in a report on Wednesday, October 8th. Wall Street Zen raised Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Finally, Morgan Stanley set a $32.00 price objective on Regions Financial in a research report on Monday, September 29th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and a consensus price target of $27.79.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $23.54 on Monday. Regions Financial Corporation has a one year low of $17.74 and a one year high of $27.96. The company has a market cap of $21.00 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.82. The business’s 50 day moving average price is $26.23 and its 200 day moving average price is $23.71.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The company had revenue of $1.81 billion during the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. On average, research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.06 annualized dividend and a yield of 4.5%. Regions Financial’s dividend payout ratio (DPR) is 49.30%.

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.