NewEdge Advisors LLC Raises Stake in Regions Financial Co. (NYSE:RF)

NewEdge Advisors LLC increased its stake in shares of Regions Financial Co. (NYSE:RF) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106,637 shares of the bank’s stock after buying an additional 13,538 shares during the period. NewEdge Advisors LLC’s holdings in Regions Financial were worth $2,508,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Y.D. More Investments Ltd lifted its holdings in Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after purchasing an additional 634 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Regions Financial in the fourth quarter valued at approximately $28,000. Picton Mahoney Asset Management lifted its stake in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after buying an additional 1,201 shares in the last quarter. Millstone Evans Group LLC bought a new position in Regions Financial in the 4th quarter worth approximately $32,000. Finally, Creative Capital Management Investments LLC purchased a new position in Regions Financial in the 4th quarter valued at approximately $44,000. Institutional investors own 79.39% of the company’s stock.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 3,343 shares of company stock worth $74,348 over the last 90 days. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RF shares. Keefe, Bruyette & Woods cut their price target on Regions Financial from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Monday. Barclays cut their target price on Regions Financial from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. decreased their price target on Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Stephens cut their price objective on shares of Regions Financial from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Truist Financial reduced their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.11.

Regions Financial Trading Down 1.2 %

NYSE:RF opened at $19.08 on Tuesday. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The firm has a market cap of $17.28 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.93 and a beta of 1.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a 50-day simple moving average of $21.49 and a 200-day simple moving average of $23.54.

Regions Financial (NYSE:RF) last announced its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same period in the previous year, the business earned $0.37 EPS. Equities analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.24%. Regions Financial’s dividend payout ratio is currently 48.08%.

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.