Foundations Investment Advisors LLC Has $267,000 Stock Holdings in Regions Financial Corporation (NYSE:RF)

Foundations Investment Advisors LLC cut its holdings in Regions Financial Corporation (NYSE:RF) by 43.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 12,270 shares of the bank’s stock after selling 9,609 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Regions Financial were worth $267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rossby Financial LCC acquired a new stake in Regions Financial in the first quarter worth about $36,000. Grove Bank & Trust increased its position in Regions Financial by 76.6% in the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock worth $41,000 after purchasing an additional 814 shares during the period. TD Waterhouse Canada Inc. increased its position in Regions Financial by 181.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank’s stock worth $76,000 after purchasing an additional 2,078 shares during the period. Allworth Financial LP increased its position in Regions Financial by 30.7% in the first quarter. Allworth Financial LP now owns 3,346 shares of the bank’s stock worth $69,000 after purchasing an additional 786 shares during the period. Finally, Proathlete Wealth Management LLC acquired a new stake in Regions Financial in the first quarter worth about $77,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RF. TD Cowen began coverage on Regions Financial in a report on Thursday, May 15th. They set a “buy” rating and a $31.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. DA Davidson raised their target price on Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Barclays restated an “underweight” rating and set a $27.00 target price (up previously from $24.00) on shares of Regions Financial in a report on Monday, July 21st. Finally, Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.33.

Regions Financial Trading Down 1.8%

NYSE RF opened at $24.87 on Friday. The stock has a market capitalization of $22.36 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.43 and a beta of 1.01. The stock’s 50 day moving average price is $23.55 and its two-hundred day moving average price is $22.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.06 annualized dividend and a dividend yield of 4.3%. Regions Financial’s payout ratio is presently 46.51%.

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.