Korea Investment CORP Takes $99.19 Million Position in Regions Financial Corporation $RF

Korea Investment CORP bought a new stake in Regions Financial Corporation (NYSE:RF) during the second quarter, HoldingsChannel reports. The firm bought 3,284,426 shares of the bank’s stock, valued at approximately $99,190,000.

A number of other hedge funds have also recently bought and sold shares of the stock. WPG Advisers LLC raised its position in Regions Financial by 83.5% during 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. acquired a new stake in shares of Regions Financial in the second quarter valued at approximately $25,000. Darwin Wealth Management LLC acquired a new stake in Regions Financial during the 2nd quarter valued at $25,000. Trust Co. of Vermont bought a new stake in shares of Regions Financial during the 2nd quarter worth about $26,000. Finally, SouthState Bank Corp boosted its holdings in shares of Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after acquiring an additional 538 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 target price on shares of Regions Financial in a research note on Monday, July 20th. Keefe, Bruyette & Woods lifted their target price on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price objective on shares of Regions Financial in a research note on Friday, July 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. Finally, Cantor Fitzgerald increased their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.24.

Regions Financial Price Performance

Shares of NYSE RF opened at $30.40 on Friday. The business has a fifty day moving average price of $30.66 and a two-hundred day moving average price of $28.80. The stock has a market capitalization of $25.90 billion, a PE ratio of 12.41, a P/E/G ratio of 1.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. 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 posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. Regions Financial’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, equities analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. Regions Financial’s payout ratio is currently 48.98%.

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.