Grantham Mayo Van Otterloo & Co. LLC Has $1.78 Million Stock Holdings in Regions Financial Corporation $RF

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in Regions Financial Corporation (NYSE:RF) by 51.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,522 shares of the bank’s stock after selling 71,866 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Regions Financial were worth $1,781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Centaurus Financial Inc. grew its holdings in Regions Financial by 3.9% during the 2nd quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock worth $241,000 after acquiring an additional 382 shares during the last quarter. Fairvoy Private Wealth LLC raised its stake in shares of Regions Financial by 1.9% in the third quarter. Fairvoy Private Wealth LLC now owns 23,670 shares of the bank’s stock worth $624,000 after acquiring an additional 449 shares during the last quarter. Southeast Asset Advisors LLC lifted its position in shares of Regions Financial by 0.5% during the third quarter. Southeast Asset Advisors LLC now owns 103,704 shares of the bank’s stock worth $2,735,000 after purchasing an additional 474 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Regions Financial by 11.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,896 shares of the bank’s stock worth $129,000 after purchasing an additional 485 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of Regions Financial by 0.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 75,163 shares of the bank’s stock valued at $1,982,000 after purchasing an additional 486 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 price target on shares of Regions Financial in a report on Tuesday, January 6th. Morgan Stanley set a $31.00 price objective on Regions Financial in a report on Monday, January 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $32.00 price target on shares of Regions Financial in a research note on Tuesday, March 3rd. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.97.

Insider Activity at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, the executive vice president owned 17,569 shares in the company, valued at approximately $505,635.82. This represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

Regions Financial Trading Down 0.8%

Shares of NYSE RF opened at $26.76 on Wednesday. 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 $23.10 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.95 and a beta of 1.02. 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’s 50 day simple moving average is $28.66 and its 200 day simple moving average is $26.91.

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

Regions Financial Dividend Announcement

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 paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. Regions Financial’s payout ratio is 46.29%.

Regions Financial declared that its Board of Directors has initiated a share buyback program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 12.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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.