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

Wedge Capital Management L L P NC increased its holdings in shares of Regions Financial Co. (NYSE:RFGet 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 (NYSE:RFGet Rating) last released its earnings results on Friday, July 22nd. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Regions Financial had a net margin of 32.85% and a return on equity of 14.07%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. Research analysts forecast that Regions Financial Co. will post 2.35 EPS for the current year.

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

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding RF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regions Financial Co. (NYSE:RFGet Rating).

Institutional Ownership by Quarter for Regions Financial (NYSE:RF)

Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.