16,173 Shares in Regions Financial Corporation (NYSE:RF) Bought by Allianz SE

Key Points

• Allianz SE has acquired a new position in Regions Financial Corporation, investing approximately $351,000 in 16,173 shares during the first quarter.
• Regions Financial reported a quarterly earnings per share (EPS) of $0.60, exceeding analyst expectations of $0.56, alongside a 10.1% year-over-year revenue increase.
• The company has announced a dividend increase to $0.265 per share, yielding 4.3%, payable on October 1st to shareholders of record on September 2nd.

Allianz SE purchased a new position in Regions Financial Corporation (NYSE:RF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,173 shares of the bank's stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Bayforest Capital Ltd raised its stake in Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after purchasing an additional 1,058 shares during the period. Rossby Financial LCC purchased a new position in Regions Financial during the first quarter worth about $36,000. Grove Bank & Trust raised its stake in Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after purchasing an additional 814 shares during the period. Allworth Financial LP raised its stake in Regions Financial by 30.7% during the first quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after purchasing an additional 786 shares during the period. Finally, TD Waterhouse Canada Inc. raised its stake in Regions Financial by 181.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after purchasing an additional 2,078 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Down 0.1%

NYSE RF traded down $0.02 on Tuesday, hitting $25.16. 11,527,337 shares of the stock were exchanged, compared to its average volume of 15,093,490. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The company has a market cap of $22.62 billion, a PE ratio of 11.70, a PEG ratio of 1.45 and a beta of 1.01. The company has a 50-day moving average price of $23.70 and a 200-day moving average price of $22.58.

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

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. Regions Financial's dividend payout ratio (DPR) is currently 46.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RF shares. TD Cowen started coverage on shares of Regions Financial in a research note on Thursday, May 15th. They issued a "buy" rating and a $31.00 price target on the stock. Barclays boosted their price target on shares of Regions Financial from $24.00 to $27.00 and gave the company an "underweight" rating in a research note on Monday, July 21st. DA Davidson boosted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Jefferies Financial Group started coverage on shares of Regions Financial in a research note on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target on the stock. Finally, Cowen started coverage on shares of Regions Financial in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently 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.