Wellington Management Co. LLP recently announced the acquisition of new stake in Regions Financial Corporation (NYSE:RF). The institutional investor has increased its shareholding in the Financial company by 47.14% to 49.66 million shares with purchase of 15.91 million shares. This fresh investment now brings its stake to 5.29% valued currently at $910.83 million. In addition, JPMorgan Investment Management, I raised its holdings by 7.58 million to 21.04 million shares. And Geode Capital Management LLC has lifted its position by 2.38% or 0.47 million shares – to 20.36 million shares.
With over 4.87 million Regions Financial Corporation (RF) shares trading Monday and a closing price of $17.80 on the day, the dollar volume was approximately $86.65 million. The shares have shown a negative half year performance of -0.50% and its price on 09/18/23 lost nearly -0.89%. Currently, there are 939.00M common shares owned by the public and among those 936.12M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 28 analysts who have offered their price forecasts for RF have a consensus price objective of $21.96. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $19.00. The average price target is 19.42% above its recent price level and an upside to the estimated low will see the stock gain 6.32% over that period. But an upside of 31.54% will see the stock hit the forecast high price target while median target price for the stock is $22.00.
Insiders at the company have transacted a total of 47 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 1,092,100 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 625,468 shares.
The top 3 mutual fund holders in Regions Financial Corporation are Vanguard Total Stock Market ETF, Vanguard Equity Income Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 29.33 million shares of the company’s stock, all valued at over $537.91 million. The company sold 2061.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard Equity Income Fund bought 7.78 million shares to see its total holdings expand to 24.18 million shares valued at over $443.47 million and representing 2.58% of the shares outstanding. Vanguard 500 Index Fund bought 0.15 million shares to bring its total holdings to over 22.62 million shares at a value of $414.84 million. Vanguard 500 Index Fund now owns shares totaling to 2.41% of the shares outstanding.
Shares of Regions Financial Corporation (NYSE: RF) opened at $17.90, down -$0.06 from a prior closing price of $17.96. However, the script later moved the day high at 17.95, down -0.89%. The company’s stock has a 5-day price change of -0.95% and -1.77% over the past three months. RF shares are trading -17.44% year to date (YTD), with the 12-month market performance down to -20.68% lower. It has a 12-month low price of $13.94 and touched a high of $24.33 over the same period. RF has an average intraday trading volume of 7.27 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.47%, -7.84%, and -10.17% respectively.
Institutional ownership of Regions Financial Corporation (NYSE: RF) shares accounts for 77.50% of the company’s 939.00M shares outstanding. Mutual fund holders own 27.80%, while other institutional holders and individual stakeholders account for 51.75% and 2.10% respectively.
It has a market capitalization of $16.72B and a beta (3y monthly) value of 1.21. The stock’s trailing 12-month PE ratio is 7.58, while the earnings-per-share (ttm) stands at $2.35. The company has a debt-to-equity ratio at 0.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.18% over the week and 2.36% over the month.
Analysts forecast that Regions Financial Corporation (RF) will achieve an EPS of $0.58 for the current quarter, $0.55 for the next quarter and $2.24 for 2024. The lowest estimate earnings-per-share for the quarter is $0.51 while analysts give the company a high EPS estimate of $0.62. Comparatively, EPS for the current quarter was $0.43 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.60%, and -5.01% over the next financial year. EPS should shrink at an annualized rate of -0.88% over the next five years, compared to 17.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 29 brokerage firm advisors rate Regions Financial Corporation (RF) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 14 of the 29 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RF, a number of firms have released research notes about the stock. Truist stated their Hold rating for the stock in a research note on April 24, 2023, with the firm’s price target at $21-$20.