NewEdge Wealth LLC Has $345,000 Stake in Regions Financial Co. (NYSE:RF)

NewEdge Wealth LLC lowered its stake in shares of Regions Financial Co. (NYSE:RF) by 33.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 17,810 shares of the bank’s stock after selling 8,918 shares during the period. NewEdge Wealth LLC’s holdings in Regions Financial were worth $345,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Yousif Capital Management LLC grew its holdings in shares of Regions Financial by 0.8% in the first quarter. Yousif Capital Management LLC now owns 149,877 shares of the bank’s stock valued at $3,336,000 after acquiring an additional 1,249 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Regions Financial by 23.5% in the first quarter. Vontobel Holding Ltd. now owns 24,426 shares of the bank’s stock worth $553,000 after buying an additional 4,648 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Regions Financial by 929.9% in the first quarter. Allianz Asset Management GmbH now owns 1,070,728 shares of the bank’s stock worth $23,834,000 after buying an additional 966,768 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in Regions Financial by 44.7% during the first quarter. Brown Brothers Harriman & Co. now owns 15,715 shares of the bank’s stock valued at $350,000 after purchasing an additional 4,852 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Regions Financial by 41.7% during the first quarter. Parkside Financial Bank & Trust now owns 2,505 shares of the bank’s stock valued at $56,000 after purchasing an additional 737 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RF shares. Keefe, Bruyette & Woods raised their price objective on Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Evercore ISI raised their target price on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Truist Financial raised their target price on Regions Financial from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. Morgan Stanley lifted their price objective on Regions Financial from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Finally, Stephens reaffirmed an “equal weight” rating and set a $21.00 price objective on shares of Regions Financial in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.39.

Regions Financial Price Performance

RF stock opened at $18.86 on Thursday. The firm has a 50 day moving average price of $19.28 and a 200-day moving average price of $17.97. Regions Financial Co. has a 52-week low of $13.72 and a 52-week high of $21.08. The firm has a market capitalization of $17.33 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.39 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 19th. The bank reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Regions Financial’s revenue was down 9.5% on a year-over-year basis. Equities research analysts forecast that Regions Financial Co. will post 1.98 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.09%. Regions Financial’s payout ratio is currently 45.93%.

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.