Parr Mcknight Wealth Management Group LLC Takes $1.55 Million Position in Regions Financial Co. (NYSE:RF)

Parr Mcknight Wealth Management Group LLC purchased a new position in Regions Financial Co. (NYSE:RF) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 65,684 shares of the bank’s stock, valued at approximately $1,545,000.

A number of other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after acquiring an additional 1,396,647 shares during the period. Geode Capital Management LLC increased its stake in shares of Regions Financial by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock worth $540,284,000 after purchasing an additional 403,283 shares in the last quarter. First Trust Advisors LP raised its position in shares of Regions Financial by 7.7% during the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock worth $401,097,000 after purchasing an additional 1,224,645 shares during the last quarter. Invesco Ltd. lifted its stake in Regions Financial by 14.5% in the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after buying an additional 1,963,954 shares in the last quarter. Finally, Norges Bank purchased a new position in Regions Financial in the 4th quarter valued at about $279,103,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, the director now directly owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on RF shares. Stephens reduced their target price on Regions Financial from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Morgan Stanley dropped their price target on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. The Goldman Sachs Group reduced their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their target price on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Finally, TD Cowen assumed coverage on shares of Regions Financial in a research report on Thursday, May 15th. They issued a “buy” rating and a $31.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.80.

Regions Financial Trading Down 0.5%

RF opened at $21.26 on Friday. The stock has a market capitalization of $19.11 billion, a PE ratio of 10.96, a P/E/G ratio of 1.93 and a beta of 0.97. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The business’s 50 day moving average price is $20.74 and its 200 day moving average price is $23.15.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the firm earned $0.37 EPS. As a group, equities research analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.70%. The ex-dividend date is Monday, June 2nd. Regions Financial’s payout ratio is currently 48.08%.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.