NewEdge Advisors LLC Lowers Position in Regions Financial Corporation $RF

NewEdge Advisors LLC decreased its stake in shares of Regions Financial Corporation (NYSE:RF) by 54.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 294,833 shares of the bank’s stock after selling 355,805 shares during the period. NewEdge Advisors LLC’s holdings in Regions Financial were worth $7,701,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Regions Financial in the fourth quarter valued at approximately $254,564,000. Victory Capital Management Inc. boosted its position 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 purchasing an additional 9,312,449 shares during the last quarter. First Trust Advisors LP boosted its position in Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock worth $348,936,000 after purchasing an additional 5,754,487 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after purchasing an additional 2,980,505 shares during the period. Finally, AQR Capital Management LLC grew its stake in Regions Financial by 151.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock valued at $103,886,000 after purchasing an additional 2,371,048 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

RF opened at $31.40 on Tuesday. The firm has a 50-day moving average price of $30.16 and a 200-day moving average price of $28.60. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $26.80 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.20 and a beta of 1.00.

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

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is currently 43.27%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Evercore reaffirmed an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on shares of Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 target price on shares of Regions Financial in a research report on Friday, July 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $34.00 price target on shares of Regions Financial in a report on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.