Axxcess Wealth Management LLC Has $620,000 Holdings in Regions Financial Co. (NYSE:RF)

Axxcess Wealth Management LLC boosted its stake in shares of Regions Financial Co. (NYSE:RF) by 158.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,005 shares of the bank’s stock after purchasing an additional 19,600 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Regions Financial were worth $620,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Merit Financial Group LLC acquired a new stake in Regions Financial during the 4th quarter worth about $214,000. Benjamin F. Edwards & Company Inc. grew its stake in Regions Financial by 9.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 155,808 shares of the bank’s stock valued at $3,019,000 after acquiring an additional 13,103 shares in the last quarter. Natixis Advisors L.P. grew its stake in Regions Financial by 34.8% during the 4th quarter. Natixis Advisors L.P. now owns 127,198 shares of the bank’s stock valued at $2,465,000 after acquiring an additional 32,855 shares in the last quarter. Silver Lake Advisory LLC grew its stake in Regions Financial by 2.1% during the 4th quarter. Silver Lake Advisory LLC now owns 198,155 shares of the bank’s stock valued at $3,840,000 after acquiring an additional 4,120 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Regions Financial by 19.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank’s stock valued at $70,952,000 after acquiring an additional 606,647 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Down 0.9 %

Shares of RF stock opened at $19.65 on Wednesday. The stock has a 50 day moving average of $19.61 and a 200-day moving average of $18.29. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The firm has a market cap of $18.06 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $21.08.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. On average, equities analysts predict that Regions Financial Co. will post 1.95 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.24 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.89%. Regions Financial’s payout ratio is 52.17%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Argus cut Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $15.00 to $22.00 in a research note on Tuesday, January 9th. Piper Sandler boosted their target price on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods boosted their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Finally, Morgan Stanley reduced their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.34.

Insider Activity at Regions Financial

In related news, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The shares were purchased at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William D. Ritter sold 23,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

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.