Regions Financial Corporation (NYSE:RF) Shares Purchased by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC grew its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 304,011 shares of the bank's stock after buying an additional 15,652 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Regions Financial were worth $6,606,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in Regions Financial by 6.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 243,969 shares of the bank's stock valued at $5,301,000 after acquiring an additional 14,720 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Regions Financial by 5.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 18,968 shares of the bank's stock worth $412,000 after purchasing an additional 947 shares during the period. Rockland Trust Co. increased its holdings in shares of Regions Financial by 18.8% during the 1st quarter. Rockland Trust Co. now owns 65,833 shares of the bank's stock valued at $1,431,000 after purchasing an additional 10,409 shares in the last quarter. Greenwood Capital Associates LLC lifted its stake in shares of Regions Financial by 42.2% in the 1st quarter. Greenwood Capital Associates LLC now owns 71,973 shares of the bank's stock valued at $1,564,000 after purchasing an additional 21,353 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of Regions Financial by 6.0% in the 1st quarter. Fifth Third Bancorp now owns 59,869 shares of the bank's stock valued at $1,301,000 after purchasing an additional 3,366 shares during the period. Hedge funds and other institutional investors own 79.39% of the company's stock.

Analyst Upgrades and Downgrades

RF has been the topic of several analyst reports. Cowen began coverage on shares of Regions Financial in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. The Goldman Sachs Group dropped their target price on Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price target on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Barclays lowered their price target on Regions Financial from $26.00 to $24.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Finally, Morgan Stanley cut their price objective on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.80.

Regions Financial Price Performance

RF traded up $0.41 on Wednesday, hitting $21.95. 11,851,199 shares of the company's stock were exchanged, compared to its average volume of 8,248,446. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The stock has a market cap of $19.73 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 1.73 and a beta of 0.96. The firm has a 50-day moving average price of $21.02 and a 200-day moving average price of $22.55. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.36.

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 for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. During the same period last year, the firm posted $0.37 earnings per share. As a group, equities analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio is currently 48.08%.

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.