Twin Lakes Capital Management LLC Purchases Shares of 25,451 Regions Financial Corporation $RF

Twin Lakes Capital Management LLC acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,451 shares of the bank’s stock, valued at approximately $769,000.

Several other hedge funds have also modified their holdings of RF. Charles Schwab Investment Management Inc. boosted its holdings in shares of Regions Financial by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after purchasing an additional 215,061 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after buying an additional 9,312,449 shares during the last quarter. Invesco Ltd. raised its position in shares of Regions Financial by 3.1% in the 4th quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock worth $524,337,000 after buying an additional 573,659 shares during the period. Morgan Stanley raised its position in shares of Regions Financial by 1.3% in the 4th quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock worth $497,459,000 after buying an additional 231,924 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after acquiring an additional 5,754,487 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RF has been the subject of a number of research reports. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target on shares of Regions Financial in a research report on Friday, July 17th. UBS Group raised their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Robert W. Baird reaffirmed an “underperform” rating and issued a $28.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 target price on shares of Regions Financial in a report on Monday, July 20th. Finally, Morgan Stanley increased their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.24.

Regions Financial Stock Performance

NYSE:RF opened at $30.35 on Friday. The firm’s fifty day simple moving average is $30.84 and its 200 day simple moving average is $28.81. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. The firm has a market capitalization of $25.86 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts expect that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. Regions Financial’s dividend payout ratio (DPR) is currently 43.27%.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.