Allianz Asset Management GmbH Has $40.89 Million Stake in Regions Financial Co. (NYSE:RF)

Allianz Asset Management GmbH raised its stake in shares of Regions Financial Co. (NYSE:RF) by 247.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,738,571 shares of the bank’s stock after purchasing an additional 1,237,538 shares during the period. Allianz Asset Management GmbH owned approximately 0.19% of Regions Financial worth $40,891,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after buying an additional 7,791,399 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Regions Financial by 575.8% in the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after buying an additional 1,452,956 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after buying an additional 816,226 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Regions Financial in the 3rd quarter worth approximately $17,589,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Regions Financial by 2,309.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 653,963 shares of the bank’s stock worth $15,381,000 after buying an additional 626,820 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Down 2.8 %

NYSE:RF opened at $23.39 on Friday. The company has a market cap of $21.26 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.93 and a beta of 1.20. The stock’s fifty day moving average price is $24.11 and its two-hundred day moving average price is $23.92. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 earnings per share. As a group, analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.28%. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Analyst Upgrades and Downgrades

RF has been the topic of a number of research analyst reports. Compass Point boosted their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Citigroup boosted their target price on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Truist Financial increased their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. Wells Fargo & Company increased their price objective on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Finally, Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

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.