128,662 Shares in Regions Financial Corporation $RF Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC acquired a new stake in shares of Regions Financial Corporation (NYSE:RF) in the second quarter, Holdings Channel reports. The fund acquired 128,662 shares of the bank’s stock, valued at approximately $3,886,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Beacon Pointe Advisors LLC bought a new stake in Regions Financial in the second quarter valued at $2,158,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Regions Financial during the second quarter valued at $36,000. 49 Wealth Management LLC acquired a new position in shares of Regions Financial during the second quarter valued at $207,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Regions Financial during the second quarter worth about $250,000. Finally, Twin Lakes Capital Management LLC bought a new position in shares of Regions Financial during the second quarter worth about $769,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RF shares. Morgan Stanley lifted their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Jefferies Financial Group restated a “hold” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Friday, July 17th. Stephens initiated coverage on shares of Regions Financial in a research note on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price target on the stock. Wells Fargo & Company lifted their price target on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 price objective on shares of Regions Financial in a research report on Monday, July 20th. Six research 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.com, the company presently has an average rating of “Hold” and an average price target of $32.24.

Regions Financial Stock Performance

RF stock opened at $30.35 on Friday. The company has a 50-day simple moving average of $30.84 and a 200 day simple moving average of $28.81. The company has a market capitalization of $25.86 billion, a P/E ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $32.47.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the company earned $0.60 EPS. Regions Financial’s quarterly revenue was up .1% on a year-over-year basis. Sell-side analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. Regions Financial’s payout ratio is 43.27%.

Regions Financial 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.