Highview Capital Management LLC DE Takes $1 Million Position in Regions Financial Co. (NYSE:RF)

Highview Capital Management LLC DE bought a new stake in Regions Financial Co. (NYSE:RF - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 42,609 shares of the bank's stock, valued at approximately $1,002,000.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Regions Financial in the 4th quarter valued at approximately $279,103,000. Invesco Ltd. grew its position in Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after buying an additional 1,963,954 shares in the last quarter. Deutsche Bank AG grew its position in Regions Financial by 52.7% during the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock worth $129,892,000 after buying an additional 1,907,121 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 buying an additional 1,396,647 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Regions Financial during the fourth quarter worth about $31,480,000. Institutional investors own 79.39% of the company's stock.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Cowen assumed coverage on shares of Regions Financial in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Morgan Stanley lowered their price target on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Stephens lowered their price target on shares of Regions Financial from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, TD Cowen assumed coverage on shares of Regions Financial in a report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.80.

Insider Activity at Regions Financial

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Regions Financial Stock Performance

Shares of Regions Financial stock traded down $0.12 on Friday, hitting $21.26. The stock had a trading volume of 5,621,293 shares, compared to its average volume of 8,142,004. Regions Financial Co. has a twelve month low of $17.72 and a twelve month high of $27.96. The business's 50 day moving average is $20.74 and its two-hundred day moving average is $23.15. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same period in the previous year, the company posted $0.37 earnings per share. Analysts forecast that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) 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.