Impact Partnership Wealth LLC Boosts Position in Regions Financial Corporation (NYSE:RF)

Impact Partnership Wealth LLC raised its stake in Regions Financial Corporation (NYSE:RF - Free Report) by 66.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,835 shares of the bank's stock after acquiring an additional 16,676 shares during the quarter. Impact Partnership Wealth LLC's holdings in Regions Financial were worth $909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of RF. 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 worth $6,606,000 after acquiring an additional 15,652 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Regions Financial by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank's stock worth $52,762,000 after acquiring an additional 21,169 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Regions Financial by 13.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank's stock valued at $3,424,000 after buying an additional 18,684 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its stake in Regions Financial by 62.4% in the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock valued at $440,000 after buying an additional 7,822 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in Regions Financial by 4.0% in the fourth quarter. LPL Financial LLC now owns 939,376 shares of the bank's stock valued at $22,094,000 after buying an additional 36,438 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. TD Cowen assumed coverage on shares of Regions Financial in a research report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Stephens restated an "overweight" rating and set a $24.00 target price on shares of Regions Financial in a report on Tuesday, June 3rd. Truist Financial restated a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Finally, Morgan Stanley boosted their target price on shares of Regions Financial from $22.00 to $27.00 and gave the stock an "equal weight" rating in a report on Thursday, July 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.15.

Regions Financial Price Performance

RF stock traded up $1.49 during trading on Friday, reaching $26.00. 23,430,016 shares of the company were exchanged, compared to its average volume of 8,376,960. The company has a 50-day moving average of $22.78 and a two-hundred day moving average of $22.42. The company has a market capitalization of $23.37 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.94 and a beta of 0.98. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. The firm's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. As a group, equities analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. This is an increase from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. This represents a $1.06 annualized dividend and a dividend yield of 4.08%. Regions Financial's dividend payout ratio (DPR) is 48.08%.

About Regions Financial

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.