Wedge Capital Management L L P NC Has $38.30 Million Holdings in Regions Financial Co. (NYSE:RF)

Wedge Capital Management L L P NC reduced its stake in Regions Financial Co. (NYSE:RF) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,628,316 shares of the bank’s stock after selling 200,235 shares during the period. Wedge Capital Management L L P NC owned approximately 0.18% of Regions Financial worth $38,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RF. Acadian Asset Management LLC acquired a new position in Regions Financial in the second quarter valued at about $320,000. Mercer Global Advisors Inc. ADV increased its stake in Regions Financial by 9.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 125,730 shares of the bank’s stock valued at $2,634,000 after acquiring an additional 10,871 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in Regions Financial by 4.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 30,504 shares of the bank’s stock valued at $611,000 after purchasing an additional 1,379 shares in the last quarter. Amalgamated Bank lifted its stake in Regions Financial by 7.5% during the second quarter. Amalgamated Bank now owns 262,370 shares of the bank’s stock worth $5,258,000 after purchasing an additional 18,261 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Regions Financial by 6.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 112,473 shares of the bank’s stock valued at $2,247,000 after purchasing an additional 7,259 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RF. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Thursday, October 24th. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. DA Davidson boosted their target price on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial upgraded Regions Financial to a “hold” rating in a research report on Monday, January 6th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $32.00 price target (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Regions Financial has an average rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Stock Performance

Shares of RF stock opened at $24.24 on Friday. Regions Financial Co. has a 12 month low of $17.42 and a 12 month high of $27.96. The stock has a market capitalization of $22.03 billion, a P/E ratio of 13.69, a PEG ratio of 2.21 and a beta of 1.21. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $25.11 and its 200 day moving average is $23.37.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1,857,300 billion. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.07 earnings per share for the current year.

Regions Financial Profile

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.