Park Avenue Securities LLC Raises Stake in Regions Financial Co. (NYSE:RF)

Park Avenue Securities LLC grew its stake in shares of Regions Financial Co. (NYSE:RF) by 22.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,032 shares of the bank’s stock after purchasing an additional 10,561 shares during the period. Park Avenue Securities LLC’s holdings in Regions Financial were worth $1,200,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in RF. Laurel Wealth Advisors LLC boosted its position in shares of Regions Financial by 86.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after purchasing an additional 649 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Regions Financial during the 4th quarter worth $28,000. Sound Income Strategies LLC raised its stake in shares of Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after buying an additional 750 shares during the last quarter. Glassman Wealth Services raised its stake in shares of Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after buying an additional 967 shares during the last quarter. Finally, West Paces Advisors Inc. raised its stake in shares of Regions Financial by 277.2% during the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock worth $41,000 after buying an additional 1,752 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Regions Financial

In related news, Director William C. Rhodes III purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at $968,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William C. Rhodes III bought 50,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at $968,500. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley cut their price target on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Truist Financial cut their price target on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Evercore ISI boosted their target price on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Piper Sandler boosted their target price on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Finally, Citigroup raised shares of Regions Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average target price of $20.34.

Regions Financial Stock Up 2.0 %

Shares of NYSE:RF opened at $19.30 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $21.08. The stock has a market capitalization of $17.68 billion, a P/E ratio of 10.49, a PEG ratio of 2.07 and a beta of 1.19. The stock has a 50-day simple moving average of $19.26 and a 200-day simple moving average of $19.13.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts forecast that Regions Financial Co. will post 1.96 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Monday, June 3rd. Regions Financial’s payout ratio is currently 52.17%.

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.