Huber Capital Management LLC Raises Position in Regions Financial Corporation $RF

Huber Capital Management LLC boosted its stake in Regions Financial Corporation (NYSE:RF) by 60.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 306,545 shares of the bank’s stock after buying an additional 115,000 shares during the period. Regions Financial accounts for approximately 1.2% of Huber Capital Management LLC’s portfolio, making the stock its 27th largest position. Huber Capital Management LLC’s holdings in Regions Financial were worth $8,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in Regions Financial by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock worth $862,792,000 after buying an additional 215,061 shares during the period. Victory Capital Management Inc. lifted its holdings in Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after buying an additional 9,312,449 shares during the period. Morgan Stanley lifted its holdings in Regions Financial by 1.3% in the fourth quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock worth $497,459,000 after buying an additional 231,924 shares during the period. Norges Bank purchased a new stake in Regions Financial in the fourth quarter worth about $254,564,000. Finally, LSV Asset Management lifted its holdings in Regions Financial by 4.0% in the fourth quarter. LSV Asset Management now owns 9,286,352 shares of the bank’s stock worth $251,660,000 after buying an additional 357,101 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler lowered their price objective on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, March 30th. Morgan Stanley lowered their price objective on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. DA Davidson raised their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Royal Bank Of Canada lifted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average price target of $30.47.

Regions Financial Price Performance

RF stock opened at $29.24 on Friday. The firm has a 50 day moving average price of $27.79 and a 200-day moving average price of $27.65. Regions Financial Corporation has a 52-week low of $21.40 and a 52-week high of $31.53. The firm has a market capitalization of $24.95 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the business earned $0.54 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Equities research analysts forecast that Regions Financial Corporation will post 2.61 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, June 1st. Regions Financial’s dividend payout ratio (DPR) is presently 44.17%.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Regions Financial Company 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.