Red Door Wealth Management LLC Decreases Holdings in Regions Financial Corporation (NYSE:RF)

Red Door Wealth Management LLC decreased its position in Regions Financial Corporation (NYSE:RF) by 32.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,358 shares of the bank’s stock after selling 13,621 shares during the quarter. Red Door Wealth Management LLC’s holdings in Regions Financial were worth $616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foster Victor Wealth Advisors LLC lifted its holdings in shares of Regions Financial by 5.4% in 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. LBP AM SA raised its position in Regions Financial by 149.4% in the 4th quarter. LBP AM SA now owns 730,614 shares of the bank’s stock worth $17,184,000 after purchasing an additional 437,691 shares during the period. Aigen Investment Management LP purchased a new position in Regions Financial in the 4th quarter worth $1,965,000. 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 worth $440,000 after purchasing an additional 7,822 shares during 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 worth $22,094,000 after purchasing an additional 36,438 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RF. TD Cowen initiated coverage on Regions Financial in a report on Thursday, May 15th. They issued a “buy” rating and a $31.00 price objective on the stock. Cowen started coverage on Regions Financial in a research report on Wednesday, May 14th. They set a “buy” rating on the stock. Jefferies Financial Group assumed coverage on Regions Financial in a research note on Wednesday, May 21st. They issued a “hold” rating and a $24.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Citigroup cut their target price on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Regions Financial presently has an average rating of “Hold” and a consensus price target of $25.80.

Regions Financial Trading Up 0.2%

NYSE RF opened at $23.40 on Monday. The firm has a market capitalization of $21.03 billion, a PE ratio of 11.25, a P/E/G ratio of 1.85 and a beta of 0.96. The stock’s 50 day moving average is $21.56 and its 200 day moving average is $22.34. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.36.

Regions Financial (NYSE:RF) last announced its earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. During the same quarter in the previous year, the business posted $0.37 EPS. Research analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 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.