Vise Technologies Inc. Makes New Investment in Regions Financial Corporation $RF

Key Points

• Vise Technologies acquired 69,639 shares of Regions Financial worth approximately $2.1 million during the second quarter. Institutional investors collectively own 79.39% of the bank’s outstanding stock.
• Regions Financial exceeded quarterly expectations, reporting $0.68 in EPS versus the $0.63 consensus estimate and $1.95 billion in revenue. Analysts expect full-year EPS of approximately $2.63.
• The company increased its quarterly dividend from $0.27 to $0.30 per share, representing an annualized dividend of $1.20 and a 3.9% yield; analysts maintain a consensus “Hold” rating with a $32.24 average price target.

Vise Technologies Inc. bought a new stake in shares of Regions Financial Corporation (NYSE:RF - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 69,639 shares of the bank's stock, valued at approximately $2,103,000.

Other hedge funds also recently modified their holdings of the company. WPG Advisers LLC grew its holdings in shares of Regions Financial by 83.5% during the second quarter. WPG Advisers LLC now owns 813 shares of the bank's stock valued at $25,000 after buying an additional 370 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the 2nd quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in Regions Financial during the 2nd quarter worth about $26,000. SouthState Bank Corp boosted its position in Regions Financial by 94.1% during the 4th 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. Finally, Gables Capital Management Inc. purchased a new position in Regions Financial during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Stock Up 0.6%

Shares of Regions Financial stock opened at $30.40 on Friday. The firm has a market cap of $25.90 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.16 and a beta of 1.00. The stock has a 50-day simple moving average of $30.66 and a 200-day simple moving average of $28.80. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. 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 (NYSE:RF - Get Free Report) last released its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm's revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, equities research analysts expect that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

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 given a $0.30 dividend. This is a positive change from Regions Financial's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial's payout ratio is presently 48.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RF shares. Robert W. Baird reissued an "underperform" rating and issued a $28.00 price target on shares of Regions Financial in a research report on Monday, July 6th. DA Davidson upped their price objective on shares of Regions Financial from $33.00 to $34.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Truist Financial increased their target price on shares of Regions Financial from $30.00 to $34.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Morgan Stanley lifted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Monday, June 29th. Finally, Cantor Fitzgerald boosted their price target on shares of Regions Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Regions Financial currently has a consensus rating of "Hold" and an average target price of $32.24.

Regions Financial Company 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.

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