Beacon Pointe Advisors LLC Makes New $2.16 Million Investment in Regions Financial Corporation $RF

Key Points

• Beacon Pointe Advisors initiated a $2.16 million position in Regions Financial by purchasing 71,456 shares during the second quarter. Institutional investors collectively own 79.39% of the bank’s stock.
• Analyst sentiment remains mixed, with six Buy, ten Hold, and four Sell ratings; the consensus rating is Hold with a $32.24 price target.
• Regions Financial reported quarterly EPS of $0.68, exceeding expectations, and raised its quarterly dividend to $0.30 per share, equivalent to a 4.0% annualized yield.

Beacon Pointe Advisors LLC purchased a new stake in Regions Financial Corporation (NYSE:RF - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 71,456 shares of the bank's stock, valued at approximately $2,158,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Regions Financial in the 4th quarter worth $254,564,000. Victory Capital Management Inc. increased its position in Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock valued at $618,860,000 after buying an additional 9,312,449 shares in the last quarter. Bank of America Corp DE acquired a new position in Regions Financial during the 2nd quarter valued at about $219,068,000. First Trust Advisors LP raised its stake 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 buying an additional 5,754,487 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in Regions Financial in the second quarter worth about $163,654,000. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Regions Financial from $31.50 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Jefferies Financial Group reiterated a "hold" rating and issued a $32.00 target price on shares of Regions Financial in a research note on Friday, July 17th. Royal Bank Of Canada reissued an "outperform" rating and set a $34.00 target price on shares of Regions Financial in a research report on Monday, July 20th. Citigroup upped their price target on shares of Regions Financial from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Regions Financial in a report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $32.24.

Regions Financial Stock Down 0.2%

Shares of RF opened at $30.35 on Friday. The company 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 52 week low of $22.70 and a 52 week high of $32.47. The stock's 50-day moving average price is $30.84 and its 200-day moving average price is $28.81. 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 (NYSE:RF - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period last year, the business earned $0.60 earnings per share. Regions Financial's quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts predict that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. This is an increase from Regions Financial's previous quarterly dividend of $0.27. Regions Financial's dividend payout ratio (DPR) is presently 43.27%.

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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