NewEdge Advisors LLC Has $7.70 Million Holdings in Regions Financial Corporation $RF

NewEdge Advisors LLC trimmed its stake in Regions Financial Corporation (NYSE:RF) by 54.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 294,833 shares of the bank’s stock after selling 355,805 shares during the period. NewEdge Advisors LLC’s holdings in Regions Financial were worth $7,701,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Optiver Holding B.V. raised its holdings in Regions Financial by 1,088.9% during the 1st quarter. Optiver Holding B.V. now owns 5,683 shares of the bank’s stock worth $148,000 after purchasing an additional 5,205 shares during the last quarter. Keel Point LLC boosted its stake in shares of Regions Financial by 55.3% in the 1st quarter. Keel Point LLC now owns 18,603 shares of the bank’s stock valued at $486,000 after purchasing an additional 6,622 shares during the last quarter. Axiom Investment Management LLC acquired a new stake in shares of Regions Financial during the first quarter worth $60,000. Summitry LLC increased its position in shares of Regions Financial by 37.5% during the first quarter. Summitry LLC now owns 10,691 shares of the bank’s stock worth $279,000 after buying an additional 2,914 shares during the period. Finally, GKV Capital Management Co. Inc. bought a new position in Regions Financial during the first quarter worth $131,000. 79.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RF. Cantor Fitzgerald increased their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. DA Davidson boosted their price objective on Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company upped their target price on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. boosted their price target on Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.24.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $31.40 on Tuesday. The business has a 50-day simple moving average of $30.16 and a 200 day simple moving average of $28.60. Regions Financial Corporation has a one year low of $22.70 and a one year high of $32.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $26.80 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.20 and a beta of 1.00.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, research analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is 43.27%.

Regions Financial Company 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.