Regions Financial Corporation $RF Position Decreased by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in Regions Financial Corporation (NYSE:RF) by 41.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,992,390 shares of the bank’s stock after selling 15,144,333 shares during the period. Wellington Management Group LLP owned about 2.46% of Regions Financial worth $633,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Regions Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after purchasing an additional 215,061 shares during the last quarter. Victory Capital Management Inc. grew its position in Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after buying an additional 9,312,449 shares during the last quarter. Invesco Ltd. grew its position in Regions Financial by 3.1% in the fourth quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock worth $524,337,000 after buying an additional 573,659 shares during the last quarter. Morgan Stanley increased its holdings in shares of Regions Financial by 1.3% in the fourth quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock valued at $497,459,000 after buying an additional 231,924 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after buying an additional 5,754,487 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Performance

Shares of RF stock opened at $30.35 on Friday. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $25.86 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.16 and a beta of 1.00. The stock’s fifty day simple moving average is $30.84 and its 200-day simple moving average is $28.81.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.Regions Financial’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, sell-side analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio is currently 43.27%.

Analyst Ratings Changes

Several research firms have recently weighed in on RF. JPMorgan Chase & Co. raised their price objective on Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. DA Davidson boosted their target price on Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Truist Financial upped their target price on Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Wells Fargo & Company increased their price target on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $34.00 price target on shares of Regions Financial in a research note on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.24.

Regions Financial Company 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.