Regions Financial Co. (NYSE:RF) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Regions Financial Co. (NYSE:RF) by 13.3% during the third quarter, HoldingsChannel.com reports. The firm owned 8,625,734 shares of the bank’s stock after buying an additional 1,014,706 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Regions Financial were worth $201,238,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of Regions Financial by 281.7% in the 1st quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock valued at $1,675,000 after purchasing an additional 58,739 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of Regions Financial by 1,075.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock valued at $942,000 after acquiring an additional 40,972 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Regions Financial by 30.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock valued at $8,734,000 after acquiring an additional 98,003 shares during the last quarter. Swedbank AB bought a new stake in shares of Regions Financial in the 1st quarter valued at approximately $19,322,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Regions Financial in the 1st quarter valued at approximately $33,829,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of recent research reports. Truist Financial upped their price objective on Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $23.00 to $28.00 in a research note on Tuesday, September 24th. Jefferies Financial Group upped their price objective on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group upped their price objective on Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada upped their price objective on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and an average price target of $22.86.

Regions Financial Trading Down 0.7 %

Shares of NYSE RF traded down $0.16 during mid-day trading on Friday, hitting $23.82. 11,191,479 shares of the company traded hands, compared to its average volume of 7,926,090. Regions Financial Co. has a 1 year low of $13.72 and a 1 year high of $24.47. The stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.80 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $22.65 and a two-hundred day moving average of $20.88.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Regions Financial Co. will post 2.02 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.20%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 54.35%.

Regions Financial Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.