Parr Mcknight Wealth Management Group LLC Buys New Shares in Regions Financial Co. (NYSE:RF)

Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Regions Financial Co. (NYSE:RF - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 65,684 shares of the bank's stock, valued at approximately $1,545,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in Regions Financial by 5.0% in the 4th 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 last quarter. Geode Capital Management LLC boosted its holdings in shares of Regions Financial by 1.8% in the 4th 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 boosted its holdings in shares of Regions Financial by 7.7% in 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 in the last quarter. Invesco Ltd. boosted its holdings in shares of Regions Financial by 14.5% in the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after purchasing an additional 1,963,954 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Regions Financial in the 4th quarter worth about $279,103,000. 79.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RF. The Goldman Sachs Group cut their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley dropped their target price on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Truist Financial restated a "hold" rating on shares of Regions Financial in a report on Friday. Stephens dropped 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. Finally, Citigroup dropped their target price on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.80.

Regions Financial Stock Up 2.0%

Shares of NYSE:RF traded up $0.43 during trading on Tuesday, hitting $21.67. The stock had a trading volume of 5,924,065 shares, compared to its average volume of 8,133,130. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96. The company has a market capitalization of $19.48 billion, a PE ratio of 11.17, a PEG ratio of 1.93 and a beta of 0.97. The firm's fifty day moving average is $20.73 and its 200 day moving average is $23.08. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the company earned $0.37 EPS. Analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the purchase, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

Regions Financial Company 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.