Regions Financial Co. (NYSE:RF) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of Regions Financial Co. (NYSE:RF) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,856,749 shares of the bank’s stock after selling 6,262,393 shares during the quarter. Wellington Management Group LLP’s holdings in Regions Financial were worth $999,848,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. American National Bank & Trust boosted its position in shares of Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after buying an additional 1,114 shares in the last quarter. Quarry LP raised its position in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after acquiring an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Regions Financial in the second quarter valued at approximately $32,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Regions Financial during the 2nd quarter worth approximately $33,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on RF. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Argus raised Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, October 24th. Piper Sandler boosted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group upped their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Barclays lifted their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.18.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $26.25 on Friday. The business has a 50-day moving average of $24.85 and a two-hundred day moving average of $22.30. The firm has a market capitalization of $23.86 billion, a PE ratio of 14.83, a P/E/G ratio of 2.72 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 12 month low of $16.86 and a 12 month high of $27.96.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.49 EPS. As a group, research analysts forecast that Regions Financial Co. will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.81%. Regions Financial’s payout ratio is 56.50%.

About Regions Financial

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.