Allspring Global Investments Holdings LLC Reduces Position in Regions Financial Corporation $RF

Allspring Global Investments Holdings LLC decreased its holdings in shares of Regions Financial Corporation (NYSE:RF) by 30.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,273,370 shares of the bank’s stock after selling 2,753,770 shares during the period. Allspring Global Investments Holdings LLC owned about 0.73% of Regions Financial worth $165,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swiss Life Asset Management Ltd boosted its position in shares of Regions Financial by 244.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank’s stock worth $61,135,000 after purchasing an additional 1,600,926 shares during the period. Waterloo Capital L.P. increased its stake in shares of Regions Financial by 123.7% in the fourth quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank’s stock worth $3,683,000 after purchasing an additional 75,149 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Regions Financial by 3.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,859,466 shares of the bank’s stock valued at $51,247,000 after purchasing an additional 69,191 shares during the period. iA Global Asset Management Inc. raised its position in shares of Regions Financial by 148.4% during the 4th quarter. iA Global Asset Management Inc. now owns 129,823 shares of the bank’s stock valued at $3,518,000 after purchasing an additional 77,567 shares during the period. Finally, Sanctuary Advisors LLC lifted its stake in shares of Regions Financial by 108.0% during the 4th quarter. Sanctuary Advisors LLC now owns 675,296 shares of the bank’s stock valued at $18,301,000 after buying an additional 350,599 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of NYSE RF opened at $32.35 on Friday. The company has a market cap of $27.61 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.22 and a beta of 1.00. Regions Financial Corporation has a 52-week low of $22.70 and a 52-week high of $32.47. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s fifty day moving average is $28.87 and its two-hundred day moving average is $28.22.

Regions Financial (NYSE:RF) last released its quarterly earnings data 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 the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, analysts anticipate that Regions Financial Corporation will post 2.6 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.30 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is presently 44.17%.

Insider Activity at Regions Financial

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RF shares. Robert W. Baird reaffirmed an “underperform” rating and issued a $28.00 target price on shares of Regions Financial in a report on Monday, July 6th. Truist Financial reissued a “hold” rating and set a $30.00 price target on shares of Regions Financial in a report on Tuesday, April 21st. Cantor Fitzgerald boosted their price objective on Regions Financial from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday. Piper Sandler dropped their price objective on Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. Finally, Wells Fargo & Company increased their target price on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.28.

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.