Regions Financial Corporation $RF Stake Increased by Wellington Management Group LLP

Key Points

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Wellington Management Group LLP grew its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,211,562 shares of the bank's stock after purchasing an additional 1,562,512 shares during the period. Wellington Management Group LLP owned approximately 4.92% of Regions Financial worth $960,717,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RF. Bayforest Capital Ltd raised its holdings in shares of Regions Financial by 637.3% during the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after acquiring an additional 1,058 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of Regions Financial during the first quarter worth $36,000. Grove Bank & Trust raised its holdings in shares of Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock worth $41,000 after acquiring an additional 814 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Regions Financial by 181.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock worth $76,000 after acquiring an additional 2,078 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Regions Financial by 30.7% during the first quarter. Allworth Financial LP now owns 3,346 shares of the bank's stock worth $69,000 after acquiring an additional 786 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Wall Street Analyst Weigh In

RF has been the topic of several analyst reports. The Goldman Sachs Group lowered their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley increased their target price on shares of Regions Financial from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Jefferies Financial Group initiated coverage on shares of Regions Financial in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 target price on the stock. Wall Street Zen raised shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Stephens increased their target price on shares of Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.33.

Regions Financial Trading Up 0.4%

Shares of NYSE:RF opened at $25.70 on Tuesday. The company has a market cap of $22.93 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.47 and a beta of 1.01. The stock's 50-day moving average is $24.38 and its 200-day moving average is $22.62. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter last year, the company earned $0.52 earnings per share. The firm's revenue was up 10.1% on a year-over-year basis. Equities research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.265 dividend. The ex-dividend date is Tuesday, September 2nd. This is a boost from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 4.1%. Regions Financial's dividend payout ratio is 46.51%.

Insider Activity

In related news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the sale, the executive vice president owned 90,915 shares in the company, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger W. Jenkins bought 4,000 shares of Regions Financial stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $25.48 per share, with a total value of $101,920.00. Following the purchase, the director owned 6,383 shares of the company's stock, valued at $162,638.84. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Regions Financial Company 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.

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