Allianz Asset Management GmbH Cuts Stock Holdings in Regions Financial Corporation (NYSE:RF)

Allianz Asset Management GmbH lessened its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 43.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 986,418 shares of the bank's stock after selling 752,153 shares during the quarter. Allianz Asset Management GmbH owned 0.11% of Regions Financial worth $21,435,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rossby Financial LCC bought a new position in shares of Regions Financial in the first quarter worth about $36,000. Grove Bank & Trust lifted its holdings in shares of Regions Financial by 76.6% in the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after acquiring an additional 814 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Regions Financial by 30.7% in the first quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after acquiring an additional 786 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Regions Financial by 181.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after acquiring an additional 2,078 shares during the last quarter. Finally, Proathlete Wealth Management LLC bought a new position in shares of Regions Financial in the first quarter worth about $77,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Down 0.3%

NYSE RF traded down $0.08 during mid-day trading on Monday, hitting $26.34. The company's stock had a trading volume of 5,083,543 shares, compared to its average volume of 9,420,700. The company's 50 day simple moving average is $23.16 and its 200 day simple moving average is $22.50. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $23.68 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.52 and a beta of 0.98.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. Analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.265 dividend. This is a boost from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Tuesday, September 2nd. Regions Financial's payout ratio is currently 46.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RF shares. Keefe, Bruyette & Woods upped their price objective on Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Stephens upped their price objective on Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. The Goldman Sachs Group lowered their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Barclays upped their price objective on Regions Financial from $24.00 to $27.00 and gave the company an "underweight" rating in a research note on Monday, July 21st. Finally, DA Davidson upped their price objective on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $27.33.

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.