Wedge Capital Management L L P NC increased its position in shares of Regions Financial Corp (NYSE:RF) by 0.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,848,027 shares of the bank’s stock after purchasing an additional 14,939 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Regions Financial were worth $31,712,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Covington Capital Management purchased a new position in Regions Financial during the second quarter worth about $25,000. Quest Capital Management Inc. ADV purchased a new stake in Regions Financial in the third quarter valued at approximately $38,000. Doyle Wealth Management acquired a new position in Regions Financial during the second quarter worth $45,000. Phocas Financial Corp. acquired a new position in Regions Financial during the second quarter worth $46,000. Finally, Thor Advisors LLC purchased a new position in shares of Regions Financial during the third quarter worth $51,000. 71.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Citigroup raised Regions Financial from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $17.00 in a research note on Monday, December 16th. BMO Capital Markets cut Regions Financial from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $16.00 to $18.00 in a research report on Tuesday, October 8th. ValuEngine lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 7th. Finally, SunTrust Banks boosted their price target on shares of Regions Financial from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.24.
RF stock opened at $16.31 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $15.91 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.49 and a beta of 1.57. The business’s 50-day moving average is $16.90 and its two-hundred day moving average is $15.85. Regions Financial Corp has a 1 year low of $13.38 and a 1 year high of $17.54.
Regions Financial (NYSE:RF) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.39 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.39. Regions Financial had a return on equity of 10.88% and a net margin of 23.78%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts expect that Regions Financial Corp will post 1.53 EPS 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 in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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