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

Allianz Asset Management GmbH reduced its position in shares of Regions Financial Corporation (NYSE:RF) by 12.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 862,328 shares of the bank’s stock after selling 124,090 shares during the period. Allianz Asset Management GmbH’s holdings in Regions Financial were worth $20,282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RF. Wealth Enhancement Advisory Services LLC boosted its position in shares of Regions Financial by 6.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 243,969 shares of the bank’s stock worth $5,301,000 after buying an additional 14,720 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Regions Financial by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 76,306 shares of the bank’s stock valued at $1,658,000 after purchasing an additional 802 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in Regions Financial by 62.4% in the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank’s stock valued at $440,000 after purchasing an additional 7,822 shares during the period. State of Alaska Department of Revenue boosted its holdings in Regions Financial by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 106,478 shares of the bank’s stock valued at $2,313,000 after purchasing an additional 2,815 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Regions Financial by 8.8% in the first quarter. Blue Trust Inc. now owns 9,605 shares of the bank’s stock valued at $209,000 after purchasing an additional 777 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Up 0.8%

Regions Financial stock opened at $23.54 on Monday. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a market cap of $21.00 billion, a PE ratio of 10.37, a P/E/G ratio of 1.12 and a beta of 1.02. The stock’s fifty day moving average is $26.23 and its two-hundred day moving average is $23.71.

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

Regions Financial Dividend Announcement

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

Insider Transactions at Regions Financial

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

Analyst Ratings Changes

A number of research firms recently issued reports on RF. Morgan Stanley set a $32.00 target price on Regions Financial in a report on Monday, September 29th. Cantor Fitzgerald began coverage on Regions Financial in a report on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 target price for the company. Keefe, Bruyette & Woods lifted 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 reiterated a “buy (b-)” rating on shares of Regions Financial in a report on Wednesday, October 8th. Finally, Evercore ISI lifted their target price on Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and a consensus price target of $27.79.

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.