Regions Financial Co. (NYSE:RF) Stake Lifted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its holdings in Regions Financial Co. (NYSE:RF) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,345,204 shares of the bank’s stock after purchasing an additional 253,339 shares during the quarter. Wedge Capital Management L L P NC owned 0.25% of Regions Financial worth $45,450,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of RF. Sound Income Strategies LLC lifted its holdings in shares of Regions Financial by 103.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares during the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Regions Financial during the third quarter valued at $26,000. HM Payson & Co. lifted its holdings in shares of Regions Financial by 2,000.0% during the third quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,000 shares during the last quarter. West Paces Advisors Inc. lifted its stake in Regions Financial by 277.2% in the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock worth $41,000 after acquiring an additional 1,752 shares in the last quarter. Finally, Baker Avenue Asset Management LP lifted its stake in Regions Financial by 69.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock worth $42,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Truist Financial reduced their price objective on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday. Barclays restated an “underweight” rating and set a $22.00 target price (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods raised their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, Stephens reissued an “equal weight” rating and issued a $21.00 target price on shares of Regions Financial in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.17.

Regions Financial Stock Up 1.5 %

NYSE:RF traded up $0.28 during trading hours on Monday, reaching $19.18. 13,165,795 shares of the stock were exchanged, compared to its average volume of 8,776,702. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a 50 day moving average of $19.32 and a 200 day moving average of $18.01. The stock has a market cap of $17.62 billion, a PE ratio of 10.26, a PEG ratio of 1.37 and a beta of 1.21.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $0.62 EPS. The company’s revenue was down 10.5% compared to the same quarter last year. On average, equities analysts expect that Regions Financial Co. will post 1.97 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is currently 52.17%.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.