Regions Financial Corporation $RF Stake Lessened by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in Regions Financial Corporation (NYSE:RF) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 23,748,400 shares of the bank’s stock after selling 175,549 shares during the period. Geode Capital Management LLC’s holdings in Regions Financial were worth $641,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RF. Victory Capital Management Inc. boosted its holdings in shares of Regions Financial by 52.9% in the third quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after acquiring an additional 4,679,285 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Regions Financial by 286.2% in the third quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock valued at $106,061,000 after acquiring an additional 2,980,505 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Regions Financial by 151.2% in the third quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock valued at $103,886,000 after acquiring an additional 2,371,048 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Regions Financial by 85.9% in the third quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank’s stock valued at $121,976,000 after acquiring an additional 2,137,062 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Regions Financial during the third quarter valued at approximately $54,349,000. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Up 0.6%

RF stock opened at $28.00 on Friday. Regions Financial Corporation has a 12 month low of $20.79 and a 12 month high of $31.53. The firm has a market cap of $23.89 billion, a PE ratio of 11.67, a P/E/G ratio of 1.09 and a beta of 1.02. The firm has a 50 day simple moving average of $27.23 and a 200 day simple moving average of $27.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 earnings per share. Equities research analysts forecast that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, June 1st. Regions Financial’s dividend payout ratio is 44.17%.

Analyst Ratings Changes

Several research firms recently commented on RF. JPMorgan Chase & Co. cut their target price on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada increased their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Piper Sandler cut their target price on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. Morgan Stanley cut their target price on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Finally, DA Davidson increased their target price on shares of Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.47.

Insider Activity at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.