Geode Capital Management LLC Purchases 403,283 Shares of Regions Financial Co. (NYSE:RF)

Geode Capital Management LLC grew its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,028,497 shares of the bank's stock after acquiring an additional 403,283 shares during the quarter. Geode Capital Management LLC owned about 2.53% of Regions Financial worth $540,284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of RF. Y.D. More Investments Ltd boosted its holdings in Regions Financial by 122.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC purchased a new position in Regions Financial in the fourth quarter valued at approximately $28,000. Picton Mahoney Asset Management grew its stake in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after acquiring an additional 1,201 shares during the period. Millstone Evans Group LLC purchased a new position in shares of Regions Financial in the fourth quarter worth about $32,000. Finally, Legacy Investment Solutions LLC bought a new stake in Regions Financial during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Insider Buying and Selling at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now directly 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 legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 3,868 shares of company stock worth $86,722 in the last three months. 0.29% of the stock is currently owned by company insiders.

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Analysts Set New Price Targets

Several equities analysts recently commented on RF shares. Morgan Stanley reduced their price objective on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday. JPMorgan Chase & Co. cut their target price on Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Compass Point lifted their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Wells Fargo & Company dropped 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 report on Friday, March 28th. Finally, Citigroup cut their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $26.42.

Regions Financial Stock Up 9.1 %

RF stock traded up $1.67 during trading on Wednesday, hitting $20.01. 18,914,519 shares of the stock traded hands, compared to its average volume of 8,043,633. The firm's 50 day moving average is $22.31 and its two-hundred day moving average is $23.74. The stock has a market cap of $18.12 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. Regions Financial Co. has a 1 year low of $17.72 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company posted $0.39 earnings per share. The company's quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend was Monday, March 3rd. Regions Financial's payout ratio is currently 51.55%.

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.