21,002 Shares in Regions Financial Corporation $RF Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new stake in shares of Regions Financial Corporation (NYSE:RF) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 21,002 shares of the bank’s stock, valued at approximately $512,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Syon Capital LLC grew its stake in Regions Financial by 17.6% in the 3rd quarter. Syon Capital LLC now owns 33,903 shares of the bank’s stock valued at $894,000 after buying an additional 5,084 shares during the last quarter. Advisors Capital Management LLC boosted its holdings in Regions Financial by 10.7% during the third quarter. Advisors Capital Management LLC now owns 9,923 shares of the bank’s stock valued at $262,000 after acquiring an additional 957 shares during the period. Drucker Wealth 3.0 LLC grew its position in shares of Regions Financial by 85.8% in the third quarter. Drucker Wealth 3.0 LLC now owns 38,714 shares of the bank’s stock valued at $1,021,000 after purchasing an additional 17,883 shares during the last quarter. NEOS Investment Management LLC increased its stake in shares of Regions Financial by 40.8% in the third quarter. NEOS Investment Management LLC now owns 122,626 shares of the bank’s stock worth $3,234,000 after purchasing an additional 35,539 shares during the period. Finally, Arvest Bank Trust Division increased its stake in shares of Regions Financial by 20.7% in the third quarter. Arvest Bank Trust Division now owns 11,094 shares of the bank’s stock worth $293,000 after purchasing an additional 1,902 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the sale, the executive vice president directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RF has been the subject of several recent analyst reports. UBS Group restated a “neutral” rating and set a $30.00 target price on shares of Regions Financial in a research note on Wednesday, February 4th. Barclays increased their price objective on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Wells Fargo & Company downgraded shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target for the company. in a report on Friday, January 16th. Finally, Piper Sandler raised their price target on shares of Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.84.

Regions Financial Stock Down 4.5%

Shares of RF stock opened at $28.70 on Tuesday. Regions Financial Corporation has a one year low of $17.74 and a one year high of $31.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a fifty day moving average price of $28.60 and a 200 day moving average price of $26.74. The stock has a market cap of $25.17 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 1.06 and a beta of 1.04.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. Analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio is 46.29%.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.