Integrated Wealth Concepts LLC Purchases 14,857 Shares of Regions Financial Corporation $RF

Integrated Wealth Concepts LLC lifted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 98.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 29,991 shares of the bank’s stock after acquiring an additional 14,857 shares during the period. Integrated Wealth Concepts LLC’s holdings in Regions Financial were worth $652,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of RF. Foster Victor Wealth Advisors LLC lifted its holdings 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 valued at $6,606,000 after purchasing an additional 15,652 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Regions Financial by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,428,091 shares of the bank’s stock worth $52,762,000 after purchasing an additional 21,169 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Regions Financial by 13.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 157,566 shares of the bank’s stock worth $3,424,000 after purchasing an additional 18,684 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Regions Financial by 62.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank’s stock worth $440,000 after acquiring an additional 7,822 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of Regions Financial during the first quarter worth $272,000. Institutional investors own 79.39% of the company’s stock.

Insider Activity

In related news, Director Roger W. Jenkins acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director directly owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David R. Keenan sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the transaction, the executive vice president owned 90,915 shares of the company’s stock, valued at $2,273,784.15. The trade was a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Regions Financial Price Performance

NYSE RF opened at $27.19 on Friday. The business has a 50 day simple moving average of $25.91 and a 200 day simple moving average of $23.00. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $24.26 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.55 and a beta of 1.02.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. Regions Financial’s payout ratio is 49.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. DA Davidson boosted their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Barclays reissued an “underweight” rating and set a $27.00 price objective (up from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Citigroup boosted their price target on shares of Regions Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Morgan Stanley boosted their price target on shares of Regions Financial from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Finally, Cantor Fitzgerald started coverage on shares of Regions Financial in a research note on Wednesday. They set an “overweight” rating and a $30.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.47.

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.