Regions Financial Co. (NYSE:RF) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its position in shares of Regions Financial Co. (NYSE:RF) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,189 shares of the bank’s stock after buying an additional 6,633 shares during the period. Park Avenue Securities LLC’s holdings in Regions Financial were worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. National Bank of Canada FI increased its holdings in Regions Financial by 575.8% in the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after purchasing an additional 1,452,956 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Regions Financial by 13.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after purchasing an additional 1,014,706 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Regions Financial in the 3rd quarter valued at approximately $17,589,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Down 1.2 %

RF opened at $24.24 on Friday. Regions Financial Co. has a twelve month low of $17.42 and a twelve month high of $27.96. The firm’s 50-day simple moving average is $25.11 and its 200-day simple moving average is $23.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $22.03 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 2.21 and a beta of 1.21.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,857,300 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial Co. will post 2.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RF shares. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. DA Davidson lifted their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.67.

Regions Financial Profile

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.