Geode Capital Management LLC Grows Stock Holdings in Regions Financial Co. (NYSE:RF)

Geode Capital Management LLC boosted its holdings in Regions Financial Co. (NYSE:RF) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,625,214 shares of the bank’s stock after buying an additional 315,605 shares during the quarter. Geode Capital Management LLC owned approximately 2.49% of Regions Financial worth $526,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RF. American National Bank & Trust raised its holdings in Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after purchasing an additional 1,114 shares in the last quarter. Quarry LP raised its stake in Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after acquiring an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,256 shares during the last quarter. Truvestments Capital LLC acquired a new position in Regions Financial in the third quarter valued at $37,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Regions Financial during the third quarter worth about $37,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Price Performance

Regions Financial stock opened at $25.05 on Friday. The company has a market cap of $22.77 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 2.72 and a beta of 1.19. Regions Financial Co. has a one year low of $17.18 and a one year high of $27.96. The business has a fifty day moving average of $25.07 and a two-hundred day moving average of $22.47. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm posted $0.49 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, analysts predict that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is currently 56.50%.

Wall Street Analyst Weigh In

RF has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Truist Financial raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. DA Davidson upped their price target on shares of Regions Financial from $27.00 to $29.00 and gave the company 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 on the stock in a research report on Thursday, October 24th. Finally, Wedbush lifted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.61.

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.