Iams Wealth Management LLC Buys New Position in Regions Financial Corporation $RF

Iams Wealth Management LLC bought a new stake in Regions Financial Corporation (NYSE:RF) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,363 shares of the bank’s stock, valued at approximately $267,000.

A number of other large investors have also recently made changes to their positions in RF. Bayforest Capital Ltd raised its stake in Regions Financial by 637.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,058 shares during the last quarter. Rossby Financial LCC purchased a new stake in Regions Financial during the 1st quarter valued at approximately $36,000. Grove Bank & Trust raised its stake in Regions Financial by 76.6% during the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock valued at $41,000 after acquiring an additional 814 shares during the last quarter. Groupe la Francaise purchased a new stake in Regions Financial during the 1st quarter valued at approximately $41,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in Regions Financial during the 1st quarter valued at approximately $58,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on RF shares. Citigroup upped their price objective on Regions Financial from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Stephens increased their target price on Regions Financial from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Morgan Stanley increased their target price on Regions Financial from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Cantor Fitzgerald initiated coverage on Regions Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $30.00 target price for the company. Finally, Barclays reissued an “underweight” rating and set a $27.00 target price (up from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.47.

Regions Financial Stock Performance

NYSE RF opened at $26.57 on Tuesday. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a market capitalization of $23.71 billion, a P/E ratio of 12.36, a PEG ratio of 1.56 and a beta of 1.02. The business has a 50 day moving average price of $26.17 and a 200 day moving average price of $23.17. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82.

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

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s dividend payout ratio (DPR) is 49.30%.

Insiders Place Their Bets

In related news, Director Roger W. Jenkins bought 4,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were purchased at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director owned 6,383 shares in the company, valued at $162,638.84. This represents a 167.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David R. Keenan sold 30,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the sale, the executive vice president owned 90,915 shares in the company, valued at approximately $2,273,784.15. This trade represents a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% 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.