Regions Financial Corporation $RF Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its holdings in Regions Financial Corporation (NYSE:RF) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 776,793 shares of the bank’s stock after selling 85,535 shares during the period. Allianz Asset Management GmbH’s holdings in Regions Financial were worth $20,484,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Regions Financial by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank’s stock worth $740,511,000 after acquiring an additional 391,568 shares during the last quarter. Geode Capital Management LLC increased its stake in Regions Financial by 0.5% during the second quarter. Geode Capital Management LLC now owns 23,794,677 shares of the bank’s stock worth $557,370,000 after acquiring an additional 109,549 shares during the last quarter. Norges Bank purchased a new position in shares of Regions Financial in the 2nd quarter worth about $246,790,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Regions Financial by 2.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after purchasing an additional 233,458 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Regions Financial by 5.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,245,179 shares of the bank’s stock worth $193,927,000 after purchasing an additional 393,055 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on RF. Truist Financial raised their price target on shares of Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. TD Cowen reissued a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. UBS Group restated a “neutral” rating and set a $30.00 target price on shares of Regions Financial in a report on Wednesday. Morgan Stanley set a $31.00 price target on Regions Financial in a report on Monday, January 19th. Finally, Wells Fargo & Company cut Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research note on Friday, January 16th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and a consensus target price of $29.31.

Insider Activity at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the sale, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Regions Financial Stock Performance

Regions Financial stock opened at $30.97 on Friday. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $31.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $27.16 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. The firm’s fifty day moving average price is $27.85 and its 200 day moving average price is $26.39.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, research analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio is presently 46.29%.

Regions Financial declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.