Wedge Capital Management L L P NC increased its holdings in shares of Regions Financial Co. (NYSE:RF – Get Rating) by 12.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,064 shares of the bank’s stock after acquiring an additional 1,794 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Regions Financial were worth $301,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mystic Asset Management Inc. acquired a new stake in Regions Financial during the fourth quarter worth about $25,000. DeDora Capital Inc. acquired a new stake in Regions Financial during the first quarter worth about $27,000. Riverview Trust Co acquired a new stake in Regions Financial during the first quarter worth about $27,000. Delos Wealth Advisors LLC acquired a new stake in Regions Financial during the fourth quarter worth about $27,000. Finally, Tcwp LLC acquired a new stake in Regions Financial during the first quarter worth about $28,000. Institutional investors and hedge funds own 73.61% of the company’s stock.
Regions Financial Trading Down 1.4 %
Regions Financial stock opened at $21.87 on Thursday. The company has a 50 day moving average price of $21.55 and a 200 day moving average price of $21.13. Regions Financial Co. has a 52 week low of $18.01 and a 52 week high of $25.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $20.44 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 0.57 and a beta of 1.26.
Regions Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be given a $0.20 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, September 1st. This represents a $0.80 dividend on an annualized basis and a yield of 3.66%. Regions Financial’s dividend payout ratio is presently 36.04%.
Analyst Ratings Changes
Several equities research analysts have commented on RF shares. Citigroup lowered shares of Regions Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $25.00 to $20.00 in a research note on Tuesday, July 12th. Raymond James upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research note on Thursday, July 7th. Wedbush raised their price target on shares of Regions Financial to $24.00 in a research note on Monday, July 25th. Robert W. Baird restated a “neutral” rating and issued a $23.00 price target on shares of Regions Financial in a research note on Wednesday, August 3rd. Finally, Truist Financial dropped their price target on shares of Regions Financial from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, June 15th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.79.
About Regions Financial
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.
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