Foster Victor Wealth Advisors LLC Boosts Stock Holdings in Regions Financial Co. (NYSE:RF)

Foster Victor Wealth Advisors LLC grew its stake in Regions Financial Co. (NYSE:RF - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 304,011 shares of the bank's stock after purchasing an additional 15,652 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Regions Financial were worth $6,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. LBP AM SA raised its holdings in Regions Financial by 149.4% in the 4th quarter. LBP AM SA now owns 730,614 shares of the bank's stock valued at $17,184,000 after buying an additional 437,691 shares during the last quarter. Aigen Investment Management LP bought a new position in Regions Financial during the 4th quarter worth approximately $1,965,000. Beacon Capital Management LLC raised its holdings in Regions Financial by 1,099.7% during the 4th quarter. Beacon Capital Management LLC now owns 139,665 shares of the bank's stock worth $3,285,000 after purchasing an additional 128,023 shares during the last quarter. LPL Financial LLC raised its holdings in Regions Financial by 4.0% during the 4th quarter. LPL Financial LLC now owns 939,376 shares of the bank's stock worth $22,094,000 after purchasing an additional 36,438 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Regions Financial by 1.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 360,509 shares of the bank's stock worth $8,558,000 after purchasing an additional 3,825 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Up 1.2%

NYSE RF traded up $0.27 during mid-day trading on Monday, hitting $21.78. The company's stock had a trading volume of 2,684,626 shares, compared to its average volume of 8,174,765. The company's 50 day simple moving average is $20.92 and its 200 day simple moving average is $22.59. Regions Financial Co. has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $19.57 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.93 and a beta of 0.96.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm posted $0.37 EPS. Analysts anticipate that Regions Financial Co. will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's dividend payout ratio is 48.08%.

Wall Street Analyst Weigh In

RF has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. Citigroup lowered their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 24th. The Goldman Sachs Group lowered their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on shares of Regions Financial in a report on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target for the company. Finally, Stephens restated an "overweight" rating and set a $24.00 price target on shares of Regions Financial in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.80.

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.