Geode Capital Management LLC Increases Position in Regions Financial Co. (NYSE:RF)

Geode Capital Management LLC grew its holdings in Regions Financial Co. (NYSE:RF – Get Rating) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,182,959 shares of the bank’s stock after acquiring an additional 311,615 shares during the period. Geode Capital Management LLC owned about 2.12% of Regions Financial worth $439,159,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of RF. Level Four Advisory Services LLC raised its holdings in Regions Financial by 59.3% during the fourth quarter. Level Four Advisory Services LLC now owns 21,836 shares of the bank’s stock worth $476,000 after purchasing an additional 8,132 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Regions Financial by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,734,876 shares of the bank’s stock worth $343,021,000 after acquiring an additional 472,102 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in Regions Financial by 86.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 700,019 shares of the bank’s stock worth $15,260,000 after purchasing an additional 323,624 shares during the period. Advisor Resource Council purchased a new position in shares of Regions Financial in the 4th quarter valued at $2,292,000. Finally, Prudential PLC raised its stake in shares of Regions Financial by 12.8% in the 4th quarter. Prudential PLC now owns 187,685 shares of the bank’s stock valued at $4,092,000 after acquiring an additional 21,309 shares during the period. Hedge funds and other institutional investors own 74.90% of the company’s stock.

A number of equities research analysts recently weighed in on RF shares. Wells Fargo & Company raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $24.00 to $26.00 in a report on Monday, April 11th. JPMorgan Chase & Co. lifted their price target on shares of Regions Financial from $26.50 to $27.00 in a report on Thursday, February 3rd. StockNews.com started coverage on shares of Regions Financial in a report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley decreased their price target on shares of Regions Financial from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Finally, Citigroup reaffirmed a “buy” rating on shares of Regions Financial in a report on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.27.

NYSE RF opened at $20.72 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.82. The company’s 50 day simple moving average is $21.44 and its 200 day simple moving average is $22.66. Regions Financial Co. has a 12 month low of $18.02 and a 12 month high of $25.57. The company has a market capitalization of $19.36 billion, a P/E ratio of 8.63, a PEG ratio of 0.56 and a beta of 1.26.

Regions Financial (NYSE:RF – Get Rating) last released its earnings results on Friday, April 22nd. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. Regions Financial had a net margin of 36.85% and a return on equity of 14.96%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. On average, analysts anticipate that Regions Financial Co. will post 2.22 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, June 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 28.33%.

Regions Financial Company Profile (Get Rating)

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.

Featured Articles