Regions Financial Co. (NYSE:RF) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in Regions Financial Co. (NYSE:RF - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,628,316 shares of the bank's stock after selling 200,235 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.18% of Regions Financial worth $38,298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RF. American National Bank & Trust raised its stake in Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock valued at $27,000 after acquiring an additional 1,114 shares during the last quarter. Quarry LP raised its stake in Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank's stock valued at $27,000 after acquiring an additional 816 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Regions Financial during the 3rd quarter valued at approximately $37,000. Legacy Investment Solutions LLC purchased a new stake in Regions Financial during the 3rd quarter valued at approximately $37,000. Finally, Benjamin Edwards Inc. raised its stake in Regions Financial by 47.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,027 shares of the bank's stock valued at $41,000 after acquiring an additional 648 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

NYSE:RF traded down $0.29 during trading hours on Friday, reaching $24.24. 15,241,466 shares of the company traded hands, compared to its average volume of 7,264,528. The firm's 50-day moving average is $25.11 and its 200-day moving average is $23.39. The stock has a market cap of $22.03 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.21 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 1-year low of $17.42 and a 1-year high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1,857,300 billion. During the same quarter last year, the firm earned $0.39 earnings per share. The business's revenue was up .2% on a year-over-year basis. Equities research analysts expect that Regions Financial Co. will post 2.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on RF. Citigroup upped their price objective on Regions Financial from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Truist Financial raised Regions Financial to a "hold" rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their target price on Regions Financial from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Wells Fargo & Company increased their target price on Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised Regions Financial from a "hold" rating to a "buy" rating and increased their target price for the stock from $24.00 to $26.00 in a research note on Thursday, October 24th. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.67.

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.