Allspring Global Investments Holdings LLC Grows Holdings in Regions Financial Corporation $RF

Allspring Global Investments Holdings LLC lifted its holdings in shares of Regions Financial Corporation (NYSE:RF) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,205,989 shares of the bank’s stock after buying an additional 233,458 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Regions Financial were worth $241,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RF. Centaurus Financial Inc. grew its holdings in Regions Financial by 3.9% during the second quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock worth $241,000 after acquiring an additional 382 shares during the period. Hardy Reed LLC lifted its stake in Regions Financial by 1.6% in the 2nd quarter. Hardy Reed LLC now owns 25,747 shares of the bank’s stock valued at $606,000 after buying an additional 404 shares in the last quarter. Greenwood Capital Associates LLC boosted its stake in shares of Regions Financial by 0.6% during the second quarter. Greenwood Capital Associates LLC now owns 72,400 shares of the bank’s stock valued at $1,703,000 after acquiring an additional 427 shares during the last quarter. Fairvoy Private Wealth LLC boosted its stake in shares of Regions Financial by 1.9% during the 3rd quarter. Fairvoy Private Wealth LLC now owns 23,670 shares of the bank’s stock worth $624,000 after purchasing an additional 449 shares during the last quarter. Finally, Signet Financial Management LLC grew its stake in Regions Financial by 4.6% in the 2nd quarter. Signet Financial Management LLC now owns 10,896 shares of the bank’s stock worth $256,000 after acquiring an additional 483 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Down 0.8%

Shares of NYSE RF opened at $27.33 on Wednesday. The stock has a fifty day moving average price of $25.71 and a 200 day moving average price of $25.51. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $27.98. The company has a market cap of $23.96 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.22 and a beta of 1.04.

Regions Financial (NYSE:RF) last issued its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The company had revenue of $1.81 billion during the quarter. Research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 10th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, December 1st. Regions Financial’s dividend payout ratio (DPR) is presently 46.70%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research note on Monday. Morgan Stanley set a $32.00 price objective on shares of Regions Financial in a research note on Monday, September 29th. Cowen reissued a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. Truist Financial boosted their target price on shares of Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Finally, Citigroup increased their price target on shares of Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.21.

Regions Financial Company Profile

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.