Regions Financial Corporation $RF Stock Holdings Trimmed by Geode Capital Management LLC

Key Points

• Geode Capital Management slightly trimmed its Regions Financial stake in the fourth quarter, selling 175,549 shares and ending with 23.75 million shares valued at about $641.1 million.
• Regions Financial reported first-quarter EPS of $0.62, edging past estimates, while revenue rose 5% year over year to $1.87 billion. Analysts now expect full-year EPS of 2.61.
• The bank declared a quarterly dividend of $0.265 per share, equal to a 3.8% annualized yield, and several analysts recently adjusted ratings with the stock carrying a consensus Hold rating.

Geode Capital Management LLC decreased its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,748,400 shares of the bank's stock after selling 175,549 shares during the quarter. Geode Capital Management LLC owned approximately 2.71% of Regions Financial worth $641,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AGF Management Ltd. acquired a new stake in Regions Financial during the third quarter worth about $1,669,000. American Century Companies Inc. raised its stake in Regions Financial by 85.9% during the third quarter. American Century Companies Inc. now owns 4,625,557 shares of the bank's stock worth $121,976,000 after acquiring an additional 2,137,062 shares during the period. Jones Financial Companies Lllp raised its stake in Regions Financial by 16.9% during the third quarter. Jones Financial Companies Lllp now owns 1,113,450 shares of the bank's stock worth $29,648,000 after acquiring an additional 161,118 shares during the period. Stevens Capital Management LP raised its stake in Regions Financial by 355.9% during the third quarter. Stevens Capital Management LP now owns 42,850 shares of the bank's stock worth $1,130,000 after acquiring an additional 33,450 shares during the period. Finally, ABC Arbitrage SA acquired a new stake in Regions Financial during the third quarter worth about $860,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Price Performance

NYSE RF opened at $28.00 on Friday. Regions Financial Corporation has a 52 week low of $20.79 and a 52 week high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock has a market cap of $23.89 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. The company has a 50-day moving average price of $27.23 and a two-hundred day moving average price of $27.39.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. Regions Financial's quarterly revenue was up 5.0% on a year-over-year basis. Analysts forecast that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on RF shares. DA Davidson increased their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. JPMorgan Chase & Co. dropped their price objective on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. UBS Group reiterated a "neutral" rating and set a $30.00 price objective on shares of Regions Financial in a research note on Wednesday, February 4th. Truist Financial restated a "hold" rating and issued a $30.00 target price on shares of Regions Financial in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada upped their target price on shares of Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of "Hold" and an average price target of $30.47.

Insider Buying and Selling

In other news, EVP Brian R. Willman sold 7,014 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.

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