United Capital Financial Advisors LLC acquired a new position in Regions Financial Corporation (NYSE:RF – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 72,185 shares of the bank’s stock, valued at approximately $2,180,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WPG Advisers LLC lifted its stake in shares of Regions Financial by 83.5% in the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after acquiring an additional 370 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in Regions Financial during the 2nd quarter worth approximately $25,000. Trust Co. of Vermont acquired a new position in shares of Regions Financial in the 2nd quarter valued at approximately $26,000. Gables Capital Management Inc. purchased a new position in shares of Regions Financial during the 2nd quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Regions Financial during the 2nd quarter valued at approximately $25,000. 79.39% of the stock is owned by hedge funds and other institutional investors.
Regions Financial Price Performance
Shares of RF opened at $30.35 on Friday. Regions Financial Corporation has a 52 week low of $22.70 and a 52 week high of $32.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.16 and a beta of 1.00. The stock has a 50 day moving average of $30.84 and a 200-day moving average of $28.81.
Regions Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s dividend payout ratio is currently 43.27%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on RF shares. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research note on Friday, July 17th. Wells Fargo & Company upped their price target on shares of Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Robert W. Baird reiterated an “underperform” rating and set a $28.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. UBS Group raised their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $32.24.
Get Our Latest Stock Analysis on RF
About Regions Financial
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.
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