Wedge Capital Management L L P NC Raises Holdings in Regions Financial Co. (NYSE:RF)

Wedge Capital Management L L P NC raised its position in Regions Financial Co. (NYSE:RF - Free Report) by 12.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,345,204 shares of the bank's stock after acquiring an additional 253,339 shares during the period. Wedge Capital Management L L P NC owned about 0.25% of Regions Financial worth $45,450,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC bought a new stake in Regions Financial in the 3rd quarter valued at approximately $26,000. Sound Income Strategies LLC increased its position in shares of Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank's stock worth $29,000 after purchasing an additional 750 shares during the last quarter. HM Payson & Co. increased its position in shares of Regions Financial by 2,000.0% during the 3rd quarter. HM Payson & Co. now owns 2,100 shares of the bank's stock worth $36,000 after purchasing an additional 2,000 shares during the last quarter. West Paces Advisors Inc. increased its position in shares of Regions Financial by 277.2% during the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank's stock worth $41,000 after purchasing an additional 1,752 shares during the last quarter. Finally, Baker Avenue Asset Management LP increased its position in shares of Regions Financial by 69.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank's stock worth $42,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RF shares. Truist Financial lowered their price target on Regions Financial from $22.00 to $20.00 and set a "hold" rating on the stock in a research report on Monday. Royal Bank of Canada boosted their price target on Regions Financial from $19.00 to $21.00 and gave the stock an "outperform" rating in a research report on Monday, January 22nd. Citigroup raised Regions Financial from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Barclays reaffirmed an "underweight" rating and set a $22.00 price target (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on Regions Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial has a consensus rating of "Hold" and a consensus price target of $20.17.

Regions Financial Price Performance

Shares of RF traded up $0.29 during trading hours on Monday, hitting $19.19. 13,334,491 shares of the company were exchanged, compared to its average volume of 8,778,894. The company has a market cap of $17.63 billion, a price-to-earnings ratio of 10.43, a P/E/G ratio of 1.37 and a beta of 1.21. Regions Financial Co. has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The firm's fifty day moving average is $19.33 and its 200 day moving average is $18.03.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. On average, equities analysts anticipate that Regions Financial Co. will post 1.97 earnings per share for the current fiscal 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 5.00%. The ex-dividend date is Friday, May 31st. Regions Financial's dividend payout ratio (DPR) is currently 52.17%.

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.