Huber Capital Management LLC Has $5.05 Million Position in Regions Financial Corporation $RF

Huber Capital Management LLC cut its stake in shares of Regions Financial Corporation (NYSE:RF) by 31.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,545 shares of the bank’s stock after selling 88,000 shares during the quarter. Huber Capital Management LLC’s holdings in Regions Financial were worth $5,051,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Darwin Wealth Management LLC bought a new position in shares of Regions Financial during the 2nd quarter worth about $25,000. United Community Bank acquired a new position in Regions Financial during the 3rd quarter worth approximately $30,000. Salomon & Ludwin LLC acquired a new position in Regions Financial during the 3rd quarter worth approximately $32,000. Elevation Point Wealth Partners LLC bought a new position in Regions Financial in the second quarter worth approximately $33,000. Finally, Clearstead Trust LLC grew its stake in Regions Financial by 574.5% in the second quarter. Clearstead Trust LLC now owns 1,430 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,218 shares during the period. 79.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on RF. Piper Sandler increased their target price on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. lifted their price target on shares of Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Barclays upped their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Wells Fargo & Company lowered shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research note on Friday, January 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, March 3rd. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.97.

Regions Financial Stock Down 0.2%

Regions Financial stock traded down $0.06 during trading on Friday, hitting $25.27. 616,244 shares of the company were exchanged, compared to its average volume of 14,948,817. The company has a market capitalization of $21.82 billion, a P/E ratio of 11.04, a PEG ratio of 0.93 and a beta of 1.02. The business’s 50 day moving average is $28.61 and its 200 day moving average is $26.89. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $0.56 earnings per share. Regions Financial’s revenue was up 5.8% on a year-over-year basis. Analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio is presently 46.29%.

Regions Financial declared that its board has initiated a stock repurchase plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were 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 trade represents a 67.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

About Regions Financial

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.