Wellington Management Group LLP Sells 207,699 Shares of Regions Financial Co. (NYSE:RF)

Wellington Management Group LLP reduced its holdings in shares of Regions Financial Co. (NYSE:RF) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,649,050 shares of the bank’s stock after selling 207,699 shares during the quarter. Wellington Management Group LLP owned 4.71% of Regions Financial worth $1,003,106,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RF. LBP AM SA raised its position in Regions Financial by 149.4% in the 4th quarter. LBP AM SA now owns 730,614 shares of the bank’s stock valued at $17,184,000 after buying an additional 437,691 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Regions Financial in the fourth quarter valued at about $1,965,000. Aprio Wealth Management LLC bought a new position in shares of Regions Financial during the fourth quarter valued at about $1,247,000. Nordea Investment Management AB boosted its holdings in Regions Financial by 60.4% during the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock worth $6,220,000 after purchasing an additional 99,115 shares during the last quarter. Finally, Vest Financial LLC grew its position in Regions Financial by 20.4% in the 4th quarter. Vest Financial LLC now owns 1,479,865 shares of the bank’s stock worth $34,806,000 after purchasing an additional 250,729 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Truist Financial dropped their target price on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Barclays upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Compass Point increased their price target on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler raised their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.17.

Insider Buying and Selling

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now owns 17,486 shares of the company’s stock, valued at $370,353.48. The trade was a 15.15 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 3,868 shares of company stock worth $86,722 in the last quarter. 0.29% of the stock is owned by insiders.

Regions Financial Price Performance

RF stock opened at $21.77 on Tuesday. The firm has a 50 day simple moving average of $23.20 and a two-hundred day simple moving average of $23.95. The stock has a market cap of $19.71 billion, a PE ratio of 11.22, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial Co. has a one year low of $17.72 and a one 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 announced 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. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.59%. Regions Financial’s dividend payout ratio is 51.55%.

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.