The Vanguard Group, Inc. recently announced the acquisition of new stake in Regions Financial Corp. (NYSE:RF). The institutional investor has increased its shareholding in the Financial company by 2.68% to 110.5 million shares with purchase of 2.89 million shares. This fresh investment now brings its stake to 11.88% valued currently at $2.14 billion. In addition, Wellington Management Co. LLP raised its holdings by 4.16 million to 53.82 million shares. And SSgA Funds Management, Inc. has lifted its position by 5.46% or 2.68 million shares – to 51.72 million shares.
Currently, there are 930.07M common shares owned by the public and among those 927.66M shares have been available to trade.
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Insiders at the company have transacted a total of 44 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 17 occasions, with total insider shares sold totaling 599,805 shares.
The top 3 mutual fund holders in Regions Financial Corp. are Vanguard Equity Income Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Vanguard Equity Income Fund owns 30.96 million shares of the company’s stock, all valued at over $599.97 million. The company bought an additional 6.78 million shares recently to bring their total holdings to about 3.33% of the shares outstanding. Vanguard Total Stock Market ETF sold -0.15 million shares to see its total holdings shrink to 29.19 million shares valued at over $565.73 million and representing 3.14% of the shares outstanding. Vanguard 500 Index Fund sold -0.16 million shares to bring its total holdings to over 22.71 million shares at a value of $440.21 million. Vanguard 500 Index Fund now owns shares totaling to 2.44% of the shares outstanding.
However, the script later moved the day high at 18.67, up 3.73%. The company’s stock has a 5-day price change of 0.27% and 12.58% over the past three months. RF shares are trading -3.92% year to date (YTD), with the 12-month market performance down to -14.67% lower. It has a 12-month low price of $13.72 and touched a high of $24.33 over the same period. RF has an average intraday trading volume of 9.68 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 -1.92%, 5.79%, and 4.66% respectively.
Institutional ownership of Regions Financial Corp. (NYSE: RF) shares accounts for 79.94% of the company’s 930.07M shares outstanding. Mutual fund holders own 28.17%, while other institutional holders and individual stakeholders account for 52.73% and 2.12% respectively.
It has a market capitalization of $17.32B and a beta (3y monthly) value of 1.23. The stock’s trailing 12-month PE ratio is 8.86, while the earnings-per-share (ttm) stands at $2.10. The company has a debt-to-equity ratio at 0.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.24% over the week and 2.45% over the month.
Analysts forecast that Regions Financial Corp. (RF) will achieve an EPS of $0.46 for the current quarter, $0.45 for the next quarter and $1.96 for 2024. The lowest estimate earnings-per-share for the quarter is $0.39 while analysts give the company a high EPS estimate of $0.52. Comparatively, EPS for the current quarter was $0.66 a year ago. Earnings per share for the fiscal year are expected to decrease by -12.60%, and 12.08% over the next financial year. EPS should shrink at an annualized rate of -0.88% over the next five years, compared to 6.53% over the past 5-year period.
Looking at the support for the RF, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on January 09, 2024, with the firm’s price target at $15-$22.
