Grimes & Company Inc. Acquires 16,345 Shares of Regions Financial Co. (NYSE:RF)

Grimes & Company Inc. grew its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 962,900 shares of the bank's stock after buying an additional 16,345 shares during the quarter. Grimes & Company Inc. owned 0.11% of Regions Financial worth $22,647,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank's stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Regions Financial by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank's stock worth $648,269,000 after buying an additional 816,226 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Regions Financial by 1.4% during the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank's stock worth $526,118,000 after buying an additional 315,605 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank's stock valued at $201,238,000 after acquiring an additional 1,014,706 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Regions Financial by 0.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank's stock worth $191,921,000 after acquiring an additional 61,426 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RF. Evercore ISI boosted their target price on shares of Regions Financial from $24.50 to $26.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 2nd. StockNews.com raised Regions Financial from a "sell" rating to a "hold" rating in a research note on Friday, October 25th. 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 note on Thursday, October 24th. Keefe, Bruyette & Woods upgraded Regions Financial from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Finally, Piper Sandler upped their price objective on Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. One investment 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.67.

Regions Financial Stock Performance

NYSE:RF traded up $0.22 during mid-day trading on Friday, hitting $24.48. The stock had a trading volume of 5,209,577 shares, compared to its average volume of 7,380,478. The company's 50 day simple moving average is $24.93 and its 200 day simple moving average is $23.55. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.94 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a twelve month low of $17.42 and a twelve month high of $27.96.

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 the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1,857,300 billion. During the same quarter last year, the firm posted $0.39 EPS. The company's quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts forecast that Regions Financial Co. will post 2.27 earnings per share for the current year.

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.