Geode Capital Management LLC Acquires 315,605 Shares of Regions Financial Co. (NYSE:RF)

Geode Capital Management LLC grew its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,625,214 shares of the bank's stock after acquiring an additional 315,605 shares during the period. Geode Capital Management LLC owned 2.49% of Regions Financial worth $526,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. American National Bank & Trust grew 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 valued at $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP grew its stake in Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank's stock valued at $27,000 after buying an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock worth $30,000 after acquiring an additional 1,256 shares during the last quarter. Innealta Capital LLC acquired a new position in Regions Financial during the 2nd quarter worth $32,000. Finally, EdgeRock Capital LLC bought a new stake in Regions Financial during the second quarter valued at about $33,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Price Performance

Shares of Regions Financial stock traded up $0.05 during mid-day trading on Friday, reaching $25.10. 7,466,738 shares of the stock were exchanged, compared to its average volume of 7,879,551. Regions Financial Co. has a fifty-two week low of $17.42 and a fifty-two week high of $27.96. The company has a market cap of $22.81 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 2.64 and a beta of 1.19. The firm has a 50-day simple moving average of $25.07 and a 200 day simple moving average of $22.47. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. The firm's revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts predict that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Monday, December 2nd. Regions Financial's dividend payout ratio is currently 56.50%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RF. DA Davidson raised their target price on Regions Financial from $27.00 to $29.00 and gave the company a "buy" rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a "hold" rating to a "buy" rating and boosted their target price for the stock from $24.00 to $26.00 in a research report on Thursday, October 24th. Wells Fargo & Company increased their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Friday, November 15th. Citigroup boosted their price objective on shares of Regions Financial from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Finally, Barclays increased their target price on shares of Regions Financial from $22.00 to $25.00 and gave the company an "underweight" rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Regions Financial currently has an average rating of "Moderate Buy" and an average 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.