Wellington Management Group LLP Has $1.10 Billion Position in Regions Financial Corporation $RF

Wellington Management Group LLP decreased its stake in Regions Financial Corporation (NYSE:RF) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,867,400 shares of the bank’s stock after selling 4,132,121 shares during the period. Wellington Management Group LLP owned 4.77% of Regions Financial worth $1,104,043,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Regions Financial by 1.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank’s stock valued at $740,511,000 after buying an additional 391,568 shares during the last quarter. Geode Capital Management LLC raised its position 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 in the last quarter. Victory Capital Management Inc. lifted its stake in Regions Financial by 52.9% in the third quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after acquiring an additional 4,679,285 shares during the last quarter. Norges Bank bought a new position in shares of Regions Financial in the 2nd quarter valued at about $246,790,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Regions Financial by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after purchasing an additional 233,458 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th. Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Morgan Stanley set a $31.00 target price on Regions Financial in a research note on Monday, January 19th. UBS Group restated a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a research note on Wednesday, February 4th. Finally, Evercore cut Regions Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $27.00 to $29.00 in a report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.97.

Insider Buying and Selling

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 in the company, valued at $505,635.82. This trade represents a 67.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Regions Financial Trading Down 1.4%

RF opened at $24.98 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $31.53. The firm has a market capitalization of $21.57 billion, a PE ratio of 10.91, a P/E/G ratio of 0.90 and a beta of 1.02. The company’s 50-day moving average is $28.56 and its 200 day moving average is $26.88.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. As a group, research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is 46.29%.

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

Regions Financial Profile

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.