Wellington Management Group LLP Has $633.97 Million Position in Regions Financial Corporation $RF

Wellington Management Group LLP reduced its stake in shares of Regions Financial Corporation (NYSE:RF) by 41.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 20,992,390 shares of the bank’s stock after selling 15,144,333 shares during the period. Wellington Management Group LLP’s holdings in Regions Financial were worth $633,970,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RF. Russell Investments Group Ltd. lifted its stake in shares of Regions Financial by 8.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank’s stock valued at $63,645,000 after purchasing an additional 165,527 shares during the last quarter. Swiss Life Asset Management Ltd increased its position in Regions Financial by 244.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock worth $61,135,000 after buying an additional 1,600,926 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Regions Financial by 3.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock worth $51,247,000 after buying an additional 69,191 shares during the last quarter. Royal Palms Capital LLC bought a new position in Regions Financial during the fourth quarter valued at about $4,137,000. Finally, Waterloo Capital L.P. raised its holdings in Regions Financial by 123.7% during the fourth quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock valued at $3,683,000 after buying an additional 75,149 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Trading Down 0.2%

Shares of NYSE:RF opened at $30.35 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day moving average is $30.84 and its 200-day moving average is $28.81. The company has a market cap of $25.86 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.16 and a beta of 1.00. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is presently 43.27%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RF. Robert W. Baird reiterated an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $34.00 price objective on shares of Regions Financial in a research note on Monday, July 20th. Wells Fargo & Company boosted their target price on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. Finally, DA Davidson increased their price target on Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.24.

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.