Top 25 Regional Bank Stocks in the US
In this piece, we will take a look at the top 25 regional bank stocks in the U.S. For more regional bank stocks, head on over to Top 5 Regional Bank Stocks in the U.S.
Due to the importance of money, the financial services sector is one of the most diversified and developed industries that you are likely to come across. There are several different kinds of banks and investment organizations that cater to the needs of different clients. Zooming in on the banking sector, retail banks are those that offer services to regular users and small businesses. They are smaller in size and have less stringent capital requirements.
However, just because they offer retail services doesn't mean that the banks have to be small. For example, some global behemoths with retail banking divisions are JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), and The Goldman Sachs Group, Inc. (NYSE:GS). These banks also provide corporate banking and investment management services, which end up overlapping their roles with those offered by mutual funds and hedge funds. However, hedge funds differ from the rest since most of their investments come through leverage. Imagine getting $100 in investor capital and using it to borrow $1,000 to invest.
Moving down the ladder, we come across regional banks. These banks often operate in some regions of a country, as opposed to national banks that have a larger presence. The primary difference is in the form of an asset base - with regional banks generally having up to $100 billion in capital according to the Federal Reserve. These banks typically offer the same kinds of services to their customers as their larger peers, but also have the advantage of wider coverage within the region that they operate. For instance, it might be easier to find a Signature Bank ATM in Fayetteville, Arkansas, than a JPMorgan ATM.
According to the Federal Deposit Insurance Corporation (FDIC), there were 4,750 community banks in the U.S. in 2019 - after dropping from the 6,802 banks in 2016. While community banks are generally thought to be smaller, the FDIC data set also includes those classified as regional on the stock market. The latest data from the government agency lists down 4,747 regional banks, with the largest in terms of assets after the big four JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), Bank of America Corporation (NYSE:BAC), and Wells Fargo & Company (NYSE:WFC), being U.S. Bancorp (NYSE:USB) with a massive asset base of $591 billion.
Photo by Sharon McCutcheon on Unsplash
Our Methodology
We sifted through the hundreds of regional bank stocks that are traded on American exchanges and over the counter to sift out those that offer banking services to U.S. customers. Most of the banks are based in America, and they are sorted through their market capitalization.
Top 25 Regional Bank Stocks in the U.S.
25. SouthState Corporation (NASDAQ:SSB)
Market Capitalization as of December 19, 2022: $5.72 billion
SouthState Corporation (NASDAQ:SSB) is an American bank that is headquartered in Winter Haven, Florida. It provides different kinds of accounts and loans to its customers. The bank had $45 billion in assets as of December 2022.
Insider Monkey's Q3 2022 survey of 920 hedge funds revealed that 25 had bought SouthState Corporation (NASDAQ:SSB)'s shares.
Out of these, Robert Joseph Caruso's Select Equity Group is SouthState Corporation (NASDAQ:SSB)'s largest shareholder through a $259 million stake that comes via 3.2 million shares.
Along with Truist Financial Corporation (NYSE:TFC), The PNC Financial Services Group, Inc. (NYSE:PNC), and U.S. Bancorp (NYSE:USB), SouthState Corporation (NASDAQ:SSB) is one of the largest U.S. regional banks.
24. New York Community Bancorp, Inc. (NYSE:NYCB)
Market Capitalization as of December 19, 2022: $5.9 billion
New York Community Bancorp, Inc. (NYSE:NYCB) is one of the oldest banks out there which was set up in 1859. It is headquartered in Hicksville, New York and it provides services in its home state, Florida, Arizona, Ohio, and New Jersey.
By the end of this year's third quarter, 31 of the 920 hedge funds polled by Insider Monkey had invested in New York Community Bancorp, Inc. (NYSE:NYCB).
New York Community Bancorp, Inc. (NYSE:NYCB)'s largest shareholder is Dmitry Balyasny's Balyasny Asset Management which owns 6.1 million shares that are worth $52 million.
23. Western Alliance Bancorporation (NYSE:WAL)
Market Capitalization as of December 19, 2022:$6.22 billion
Western Alliance Bancorporation (NYSE:WAL) is headquartered in Phoenix, Arizona. The firm provides services in California, Nevada, and Arizona. These include different kinds of accounts, maturity certificates, and working capital finance.
25 of the 920 hedge funds polled by Insider Monkey for their September quarter of 2022 investments had owned Western Alliance Bancorporation (NYSE:WAL)'s shares.
Lansing Davis' Davis Capital Partners is Western Alliance Bancorporation (NYSE:WAL)'s largest investor through a $157 million stake that comes via 2.4 million shares.
22. Prosperity Bancshares, Inc. (NYSE:PB)
Market Capitalization as of December 19, 2022: $6.31 billion
Prosperity Bancshares, Inc. (NYSE:PB) is a Texas based bank whose branches are located primarily in its home state with additional offices in Oklahoma. Most of its locations are in Houston, and the bank serves both regular customers and businesses.
Insider Monkey scanned 920 hedge fund portfolios for this year's third quarter to discover that 19 had bought Prosperity Bancshares, Inc. (NYSE:PB)'s shares.
Prosperity Bancshares, Inc. (NYSE:PB)'s largest investor in our database is Ken Fisher's Fisher Asset Management which owns 375,825 shares that are worth $25 million.
21. BOK Financial Corporation (NASDAQ:BOKF)
Market Capitalization as of December 19, 2022: $6.82 billion
BOK Financial Corporation (NASDAQ:BOKF) is an Oklahoman bank that was set up in 1910 and is headquartered in Tulsa, Oklahoma. The bank also provides its services in New Mexico, Texas, Arizona, Missouri, Colorado, and Arkansas. These include commercial and retail banking.
As part of their Q3 2022 investments, 18 of the 920 hedge fund portfolios studied by Insider Monkey had bought BOK Financial Corporation (NASDAQ:BOKF)'s shares.
BOK Financial Corporation (NASDAQ:BOKF)'s largest investor is John W. Rogers's Ariel Investments which owns 3 million shares that are worth $269 million.
20. Signature Bank (NASDAQ:SBNY)
Market Capitalization as of December 19, 2022: $7.16 billion
Signature Bank (NASDAQ:SBNY) is a commercial bank based out of New York. It is responsible for managing retirement funds and plans, deposit, checking, and money market accounts, and wealth management for high net worth clients. The bank has branches in North Carolina, New York, Connecticut, and California.
45 of the 920 hedge funds polled by Insider Monkey for this year's third quarter had held a stake in Signature Bank (NASDAQ:SBNY).
Signature Bank (NASDAQ:SBNY)'s largest shareholder is Lansing Davis' Davis Capital Partners which owns one million shares that are worth $151 million.
19. Webster Financial Corporation (NYSE:WBS)
Market Capitalization as of December 19, 2022: $7.99 billion
Webster Financial Corporation (NYSE:WBS) is a diversified regional bank with commercial, retail, and health divisions. Through these, it provides its customers with different accounts, financing, loans, wealth management, investment products, and insurance. It is headquartered in Stamford, Connecticut.
Insider Monkey studied 920 hedge fund portfolios for their third quarter of 2022 shareholdings to discover that 30 had invested in Webster Financial Corporation (NYSE:WBS).
Webster Financial Corporation (NYSE:WBS)'s largest hedge fund investor in our database is Ric Dillon's Diamond Hill Capital which owns 3.1 million shares that are worth $143 million.
18. Commerce Bancshares, Inc. (NASDAQ:CBSH)
Market Capitalization as of December 19, 2022: $8.13 billion
Commerce Bancshares, Inc. (NASDAQ:CBSH) is an old bank that was set up in 1865. It is based in Kansas City, Missouri, and has branches in Colorado, Oklahoma, Illinois, Missouri, and Kansas. Some of its products include automobile financing, working capital finance, lending, leasing, trusts, and private banking accounts.
After Insider Monkey analyzed 920 hedge fund investment portfolios for Q3 2022, we discovered that 19 had bought Commerce Bancshares, Inc. (NASDAQ:CBSH)'s shares.
Of these investors, Israel Englander's Millennium Management is Commerce Bancshares, Inc. (NASDAQ:CBSH)'s largest shareholder. It owns 445,658 shares that are worth $29 million.
17. Cullen/Frost Bankers, Inc. (NYSE:CFR)
Market Capitalization as of December 19, 2022: $8.22 billion
Cullen/Frost Bankers, Inc. (NYSE:CFR) is another old regional bank that was set up in 1868. It provides consumer and commercial banking services to allow its customers to manage their receivables, acquire new properties, open different accounts, take out loans, and open letters of credit. The bank also operates mutual funds. It currently has $53 billion in assets.
During this year's September quarter, 25 of the top 920 hedge funds polled by Insider Monkey had invested in Cullen/Frost Bankers, Inc. (NYSE:CFR).
Cullen/Frost Bankers, Inc. (NYSE:CFR)'s largest shareholder is Ken Griffin's Citadel Investment Group which owns 474,606 shares that are worth $62 million.
16. Comerica Incorporated (NYSE:CMA)
Market Capitalization as of December 19, 2022: $8.33 billion
Formerly known as DETROITBANK, Comerica Incorporated (NYSE:CMA) changed its name in the early 1990s. Its retail segment provides student loans, mortgages, and accounts. Additionally, the bank also has wealth management and corporate banking divisions. Some states in which Comerica Incorporated (NYSE:CMA) operates are Texas, Arizona, and California.
By the end of this year's third quarter, 45 of the 920 hedge funds polled by Insider Monkey owned a stake in Comerica Incorporated (NYSE:CMA).
Out of these, Paul Marshall and Ian Wace's Marshall Wace LLP is Comerica Incorporated (NYSE:CMA)'s largest investor. It owns 2.3 million shares that are worth $169 million.
15. SVB Financial Group (NASDAQ:SIVB)
Market Capitalization as of December 19, 2022: $12.55 billion
SVB Financial Group (NASDAQ:SIVB) is a Californian bank that is relatively small in its operational footprint as it has a little over 50 offices in the U.S. and other regions. However, despite this, it is among the top 20 regional banks according to the FDIC, with a massive $210 billion of assets under its belt. It has several divisions, including venture capital and investment banking arms.
Insider Monkey's Q3 2022 study of 920 hedge funds revealed that 28 had bought SVB Financial Group (NASDAQ:SIVB)'s shares.
SVB Financial Group (NASDAQ:SIVB)'s largest investor is Ric Dillon's Diamond Hill Capital which owns 956,756 shares that are worth $321 million.
14. First Horizon Corporation (NYSE:FHN)
Market Capitalization as of December 19, 2022: $13.14 billion
First Horizon Corporation (NYSE:FHN) was set up in 1864 and is based in Memphis, Tennessee. The firm has a large client base which includes retail clients, governments, and other financial firms. It writes securities, provides insurance, and conducts remittance processing alongside other services.
49 of the 920 hedge funds polled by Insider Monkey owned First Horizon Corporation (NYSE:FHN)'s shares during this year's third quarter.
Simon Sadler's Segantii Capital is First Horizon Corporation (NYSE:FHN)'s largest shareholder. It owns 8.3 million shares that are worth $191 million.
13. KeyCorp (NYSE:KEY)
Market Capitalization as of December 19, 2022: $15.15 billion
KeyCorp (NYSE:KEY) is one of the larger banks on our list as it has close to 1,000 branches in more than ten American states. The bank was set up in 1849 and is headquartered in Cleveland, Ohio. It provides both personal and commercial banking products.
After we studied 920 hedge fund portfolios for this year's third quarter, we discovered that 33 had invested in KeyCorp (NYSE:KEY).
KeyCorp (NYSE:KEY)'s largest investor in our database is Phill Gross and Robert Atchinson's Adage Capital Management which owns 6.3 million shares that are worth $100 million.
12. Citizens Financial Group, Inc. (NYSE:CFG)
Market Capitalization as of December 19, 2022: $18.7 billion
Citizens Financial Group, Inc. (NYSE:CFG) has more than a thousand branches all over America. It serves the needs of small and medium sized businesses, which often find it hard to secure credit from larger banks. Additionally, the bank's consumer division provides loans, mortgages, credit cards, and other products. The bank had $279 million in assets as of December 2022.
43 of the 920 hedge funds polled by Insider Monkey during this year's third quarter had invested in Citizens Financial Group, Inc. (NYSE:CFG).
Citizens Financial Group, Inc. (NYSE:CFG)'s largest shareholder is Paul Marshall and Ian Wace's Marshall Wace LLP which owns 3.1 million shares that are worth $108 million.
11. Regions Financial Corporation (NYSE:RF)
Market Capitalization as of December 19, 2022: $19.35 billion
Regions Financial Corporation (NYSE:RF) provides consumer and corporate banking services. These include mortgages, credit cards, loans, and deposits for the consumer segment; and leasing, underwriting, and foreign exchange management for corporate clients. The bank also has a wealth management division.
Insider Monkey took a look at 920 hedge fund portfolios for this year's third quarter to discover that 32 had bought Regions Financial Corporation (NYSE:RF)'s shares.
Regions Financial Corporation (NYSE:RF)'s largest hedge fund investor is Richard S. Pzena's Pzena Investment Management which owns 3.3 million shares that are worth $66 million.
10. First Republic Bank (NYSE:FRC)
Market Capitalization as of December 19, 2022: $21.71 billion
The First Republic Bank (NYSE:FRC) is a Californian bank that is headquartered in San Francisco. It is a private bank with a wide variety of accounts and a presence in major cities such as New York, Los Angeles, San Diego, Portland, and Boston. First Republic Bank (NYSE:FRC) is also one of the largest regional banks in America in terms of assets, which stood at $205 billion in December 2022.
By the end of Q3 2022, 39 of the 920 hedge funds surveyed by Insider Monkey had held a stake in First Republic Bank (NYSE:FRC).
First Republic Bank (NYSE:FRC)'s largest shareholder is Robert Joseph Caruso's Select Equity Group which owns 5.2 million shares that are worth $686 million.
9. Fifth Third Bancorp (NASDAQ:FITB)
Market Capitalization as of December 19, 2022: $21.75 billion
Fifth Third Bancorp (NASDAQ:FITB) is based in Cincinnati, Ohio. The bank serves the needs of both retail and corporate clients, and it is one of the largest banks in the American Midwest. It has more than one thousand branches that are located all over the U.S. in states such as Michigan, Ohio, Tennessee, and South Carolina. Fifth Third Bancorp (NASDAQ:FITB) had a whopping $204 billion in assets as of December 2022.
Insider Monkey's third quarter of 2022 research covering 920 hedge funds revealed that 35 had held a stake in Fifth Third Bancorp (NASDAQ:FITB).
Ken Griffin's Citadel Investment Group is Fifth Third Bancorp (NASDAQ:FITB)'s largest shareholder. It owns 3.3 million shares that are worth $107 million.
8. Deutsche Bank Aktiengesellschaft (NYSE:DB)
Market Capitalization as of December 19, 2022: $22.75 billion
Deutsche Bank Aktiengesellschaft (NYSE:DB) is a German bank with a global presence including that in the United States. It is also recognized as a community bank by the FDIC, which lists Deutsche Bank Trust Company Americas as having $39 billion in assets and Deutsche Bank Trust Company Delaware with $120 million in assets.
14 of the 920 hedge funds polled by Insider Monkey during this year's third quarter owned Deutsche Bank Aktiengesellschaft (NYSE:DB)'s shares.
Deutsche Bank Aktiengesellschaft (NYSE:DB)'s largest investor is Douglas Braunstein and James Woolery's Hudson Executive Capital which owns 65 million shares that are worth $505 million.
7. M&T Bank Corporation (NYSE:MTB)
Market Capitalization as of December 19, 2022: $24.91 billion
M&T Bank Corporation (NYSE:MTB) is a New York based bank with hundreds of branches in its home state, Delaware, Pennsylvania, Virginia, West Virginia, Connecticut, and other American states. It provides services to commercial, retail, and real estate customers.
Insider Monkey took a look at 920 hedge fund holdings for this year's third quarter and discovered that 44 had invested in M&T Bank Corporation (NYSE:MTB).
M&T Bank Corporation (NYSE:MTB)'s largest shareholder is Ken Griffin's Citadel Investment Group which owns 1.4 million shares that are worth $261 million.
6. Banco Bradesco S.A. (NYSE:BBD)
Market Capitalization as of December 19, 2022: $29.95 billion
Banco Bradesco S.A. (NYSE:BBD) is a Brazilian bank that also operates in the United States. The FDIC lists it as Bradesco BAC Florida Bank, which has $2.9 billion in assets. Banco Bradesco S.A. (NYSE:BBD) is headquartered in Osasco, Brazil.
As part of their holdings for 2022's September quarter, 15 of the 920 hedge funds polled by Insider Monkey had bought a stake in Banco Bradesco S.A. (NYSE:BBD).
Out of these, Ken Fisher's Fisher Asset Management is Banco Bradesco S.A. (NYSE:BBD)'s largest shareholder. It owns 25 million shares that are worth $92 million.
Banco Bradesco S.A. (NYSE:BBD) joins our list of America's largest regional bank stocks, with heavy hitters such as The PNC Financial Services Group, Inc. (NYSE:PNC), Truist Financial Corporation (NYSE:TFC), and U.S. Bancorp (NYSE:USB).
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Disclosure: None. Top 25 Regional Bank Stocks in the U.S. is originally published on Insider Monkey.