Wealth Preservation Advisors LLC Acquires Shares of 2,688 Regions Financial Corporation $RF

Wealth Preservation Advisors LLC acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,688 shares of the bank’s stock, valued at approximately $58,000.

Other large investors have also recently added to or reduced their stakes in the company. Foster Victor Wealth Advisors LLC boosted its stake in Regions Financial by 5.4% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank’s stock valued at $6,606,000 after acquiring an additional 15,652 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Regions Financial by 0.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank’s stock worth $52,762,000 after purchasing an additional 21,169 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Regions Financial by 13.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank’s stock worth $3,424,000 after purchasing an additional 18,684 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in shares of Regions Financial by 62.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank’s stock worth $440,000 after purchasing an additional 7,822 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of Regions Financial during the first quarter worth $272,000. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. TD Cowen assumed coverage on shares of Regions Financial in a report on Thursday, May 15th. They set a “buy” rating and a $31.00 target price on the stock. Citigroup increased their target price on shares of Regions Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Jefferies Financial Group assumed coverage on shares of Regions Financial in a report on Wednesday, May 21st. They set a “hold” rating and a $24.00 target price on the stock. Finally, Cowen assumed coverage on shares of Regions Financial in a report on Wednesday, May 14th. They set a “buy” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Regions Financial currently has an average rating of “Moderate Buy” and an average target price of $27.33.

Regions Financial Stock Up 1.4%

RF stock opened at $27.47 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The firm’s 50-day simple moving average is $25.02 and its 200 day simple moving average is $22.74. The stock has a market cap of $24.51 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company earned $0.52 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.265 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.9%. Regions Financial’s dividend payout ratio is 46.51%.

Insider Transactions at Regions Financial

In related news, Director Roger W. Jenkins bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the transaction, the director directly owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. This represents a 167.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the transaction, the executive vice president owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This represents a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

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.