Master S Wealth Management Inc. Acquires New Shares in Regions Financial Co. (NYSE:RF)

Master S Wealth Management Inc. acquired a new position in shares of Regions Financial Co. (NYSE:RF - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 39,400 shares of the bank's stock, valued at approximately $927,000. Regions Financial accounts for about 0.5% of Master S Wealth Management Inc.'s holdings, making the stock its 13th biggest position.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Regions Financial during the fourth quarter worth approximately $279,103,000. Invesco Ltd. grew its position in shares of Regions Financial by 14.5% during 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake 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. Raymond James Financial Inc. bought a new position in shares of Regions Financial during the fourth quarter valued at approximately $31,480,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Regions Financial by 247.0% during the fourth quarter. Allianz Asset Management GmbH now owns 1,738,571 shares of the bank's stock valued at $40,891,000 after purchasing an additional 1,237,538 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on RF. JPMorgan Chase & Co. decreased 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 report on Thursday, April 3rd. Truist Financial lowered their target price on Regions Financial from $26.00 to $24.00 and set a "hold" rating on the stock in a research report on Friday, March 21st. Morgan Stanley reduced 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. Wells Fargo & Company reduced their price target on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Finally, Barclays upped their target price on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.42.

Insider Buying and Selling at Regions Financial

In other news, Director Joia M. Johnson acquired 2,300 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now directly owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased a total of 3,343 shares of company stock valued at $74,348 in the last three months. 0.29% of the stock is currently owned by company insiders.

Regions Financial Trading Up 0.5 %

Shares of NYSE:RF traded up $0.09 during midday trading on Friday, hitting $19.26. The company had a trading volume of 18,651,917 shares, compared to its average volume of 8,135,804. The firm has a fifty day simple moving average of $21.59 and a 200 day simple moving average of $23.56. The stock has a market cap of $17.44 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.93 and a beta of 1.01. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial Co. has a 12 month low of $17.72 and a 12 month high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. 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 company posted $0.37 earnings per share. On average, analysts predict that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's dividend payout ratio is 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.