Dimensional Fund Advisors LP Decreases Stake in Regions Financial Corporation $RF

Dimensional Fund Advisors LP lessened its holdings in shares of Regions Financial Corporation (NYSE:RF) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,980,311 shares of the bank’s stock after selling 467,758 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.14% of Regions Financial worth $263,192,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Empowered Funds LLC raised its holdings in Regions Financial by 7.2% in the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after acquiring an additional 1,278 shares during the last quarter. Woodline Partners LP lifted its stake in Regions Financial by 40.7% in the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after purchasing an additional 22,216 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Regions Financial by 35.2% during the 2nd quarter. Assetmark Inc. now owns 30,246 shares of the bank’s stock worth $711,000 after purchasing an additional 7,870 shares during the last quarter. Atria Investments Inc grew its position in shares of Regions Financial by 13.5% in the second quarter. Atria Investments Inc now owns 24,391 shares of the bank’s stock valued at $574,000 after purchasing an additional 2,894 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its position in shares of Regions Financial by 7.2% in the second quarter. Resona Asset Management Co. Ltd. now owns 309,043 shares of the bank’s stock valued at $7,260,000 after purchasing an additional 20,778 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays lifted their price objective on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th. Wall Street Zen cut Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Piper Sandler raised their target price on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $32.00 price target on shares of Regions Financial in a report on Tuesday. Finally, UBS Group reissued a “neutral” rating and set a $30.00 price target on shares of Regions Financial in a research report on Wednesday, February 4th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.97.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the company’s 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 transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. This represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is owned by insiders.

Regions Financial Trading Down 2.6%

Shares of Regions Financial stock opened at $27.03 on Friday. The stock has a 50 day moving average of $28.69 and a 200 day moving average of $26.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $23.34 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.98 and a beta of 1.02. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $31.53.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. Regions Financial’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, March 2nd. Regions Financial’s payout ratio is 46.29%.

Regions Financial announced that its board has initiated a share repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Regions Financial Profile

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.