Axxcess Wealth Management LLC Raises Stock Position in Regions Financial Co. (NYSE:RF)

Axxcess Wealth Management LLC increased its holdings in shares of Regions Financial Co. (NYSE:RF) by 158.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,005 shares of the bank’s stock after purchasing an additional 19,600 shares during the period. Axxcess Wealth Management LLC’s holdings in Regions Financial were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Merit Financial Group LLC purchased a new position in Regions Financial in the fourth quarter valued at $214,000. Benjamin F. Edwards & Company Inc. boosted its position in Regions Financial by 9.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 155,808 shares of the bank’s stock worth $3,019,000 after purchasing an additional 13,103 shares in the last quarter. Natixis Advisors L.P. grew its holdings in Regions Financial by 34.8% in the fourth quarter. Natixis Advisors L.P. now owns 127,198 shares of the bank’s stock valued at $2,465,000 after purchasing an additional 32,855 shares during the period. Silver Lake Advisory LLC increased its position in shares of Regions Financial by 2.1% in the fourth quarter. Silver Lake Advisory LLC now owns 198,155 shares of the bank’s stock valued at $3,840,000 after buying an additional 4,120 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Regions Financial by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank’s stock worth $70,952,000 after buying an additional 606,647 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of RF opened at $19.65 on Wednesday. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $21.08. The stock has a market cap of $18.06 billion, a PE ratio of 10.68, a P/E/G ratio of 1.45 and a beta of 1.21. The firm has a 50-day simple moving average of $19.61 and a two-hundred day simple moving average of $18.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. Regions Financial’s revenue was down 10.5% on a year-over-year basis. As a group, analysts forecast that Regions Financial Co. will post 1.95 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.89%. The ex-dividend date is Monday, June 3rd. Regions Financial’s payout ratio is currently 52.17%.

Insider Buying and Selling

In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were purchased at an average cost of $19.37 per share, with a total value of $968,500.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at $968,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was bought at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RF. Piper Sandler lifted their price target on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Truist Financial reduced their price target on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Stephens reissued an “equal weight” rating and set a $21.00 target price on shares of Regions Financial in a report on Tuesday, January 23rd. Finally, Argus lowered Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Regions Financial has a consensus rating of “Hold” and an average target price of $20.34.

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.