NewEdge Advisors LLC Purchases 13,538 Shares of Regions Financial Co. (NYSE:RF)

NewEdge Advisors LLC grew its holdings in shares of Regions Financial Co. (NYSE:RF - Free Report) by 14.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 106,637 shares of the bank's stock after acquiring an additional 13,538 shares during the quarter. NewEdge Advisors LLC's holdings in Regions Financial were worth $2,508,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock worth $686,398,000 after purchasing an additional 1,396,647 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Regions Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank's stock valued at $540,284,000 after buying an additional 403,283 shares during the period. Invesco Ltd. grew its stake in shares of Regions Financial by 14.5% in the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after purchasing an additional 1,963,954 shares during the last quarter. Norges Bank bought a new stake in shares of Regions Financial in the 4th quarter worth approximately $279,103,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Regions Financial by 1.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank's stock worth $203,273,000 after buying an additional 112,885 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

Shares of RF stock traded up $0.52 during trading on Thursday, reaching $20.54. The company had a trading volume of 8,694,614 shares, compared to its average volume of 8,106,685. The firm's 50 day simple moving average is $21.32 and its two-hundred day simple moving average is $23.49. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market capitalization of $18.60 billion, a PE ratio of 10.59, a PEG ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same quarter last year, the firm posted $0.37 earnings per share. Sell-side analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.87%. Regions Financial's dividend payout ratio is presently 48.08%.

Insider Activity at Regions Financial

In related news, Director Joia M. Johnson purchased 2,300 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the transaction, the director now directly owns 17,486 shares of the company's stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RF shares. Morgan Stanley cut their price objective on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Stephens reduced 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 note on Monday. Keefe, Bruyette & Woods cut their target price on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday. Wells Fargo & Company decreased their target price on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. Finally, The Goldman Sachs Group reduced their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday. 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $25.53.

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.