Twin Lakes Capital Management LLC Takes $769,000 Position in Regions Financial Corporation $RF

Twin Lakes Capital Management LLC bought a new position in shares of Regions Financial Corporation (NYSE:RF) during the second quarter, HoldingsChannel reports. The institutional investor bought 25,451 shares of the bank’s stock, valued at approximately $769,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in Regions Financial during the 2nd quarter valued at $25,000. WPG Advisers LLC lifted its holdings in Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after buying an additional 370 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new position in Regions Financial in the 2nd quarter valued at about $25,000. Trust Co. of Vermont purchased a new position in Regions Financial in the 2nd quarter valued at about $26,000. Finally, SouthState Bank Corp grew its stake 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 valued at $30,000 after acquiring an additional 538 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of RF stock opened at $30.35 on Friday. The stock 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 Corporation has a one year low of $22.70 and a one year high of $32.47. The company’s 50-day simple moving average is $30.84 and its 200-day simple moving average is $28.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share 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 analyst estimates of $1.94 billion. During the same period in the previous year, the company earned $0.60 earnings per share. Regions Financial’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company 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. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is 43.27%.

Analyst Ratings Changes

A number of analysts have recently issued reports on RF shares. 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 research report on Monday, July 20th. Morgan Stanley increased their price target on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. JPMorgan Chase & Co. raised their price objective on Regions Financial from $31.50 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. UBS Group lifted 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. Finally, Stephens began coverage on Regions Financial in a research report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.24.

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.