Axxcess Wealth Management LLC Cuts Stock Holdings in Regions Financial Co. (NYSE:RF)

Axxcess Wealth Management LLC decreased its position in shares of Regions Financial Co. (NYSE:RF) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,851 shares of the bank’s stock after selling 3,154 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Regions Financial were worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. HB Wealth Management LLC boosted its holdings in Regions Financial by 0.6% in the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after purchasing an additional 551 shares during the last quarter. CWM LLC boosted its holdings in Regions Financial by 1.4% in the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after purchasing an additional 556 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in Regions Financial by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock worth $433,000 after purchasing an additional 565 shares during the last quarter. Signet Financial Management LLC boosted its holdings in Regions Financial by 4.9% in the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after purchasing an additional 584 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its holdings in Regions Financial by 0.4% in the fourth quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank’s stock worth $2,797,000 after purchasing an additional 606 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the transaction, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RF shares. Wells Fargo & Company raised their target price on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Royal Bank of Canada increased their price target on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Morgan Stanley decreased their price target on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Citigroup increased their price target on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Bank of America increased their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.32.

Regions Financial Price Performance

RF traded up $0.21 during trading on Friday, hitting $22.76. 7,329,041 shares of the company traded hands, compared to its average volume of 9,182,820. The company has a market cap of $20.83 billion, a PE ratio of 12.37, a P/E/G ratio of 2.90 and a beta of 1.18. The stock’s 50-day simple moving average is $19.83 and its two-hundred day simple moving average is $19.42. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $22.85. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period last year, the company posted $0.59 earnings per share. As a group, sell-side analysts anticipate that Regions Financial Co. will post 1.99 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.39%. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Regions Financial Company 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.