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

Allspring Global Investments Holdings LLC cut its holdings in Regions Financial Corporation (NYSE:RF) by 30.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,273,370 shares of the bank’s stock after selling 2,753,770 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Regions Financial were worth $165,241,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Root Financial Partners LLC lifted its holdings in shares of Regions Financial by 3.9% in the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after acquiring an additional 346 shares during the last quarter. Master S Wealth Management Inc. grew its position in Regions Financial by 1.0% in the first quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock worth $1,009,000 after acquiring an additional 372 shares in the last quarter. Van ECK Associates Corp increased its stake in Regions Financial by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after acquiring an additional 373 shares during the last quarter. Lcnb Corp increased its stake in Regions Financial by 3.8% during the fourth quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock worth $291,000 after acquiring an additional 390 shares during the last quarter. Finally, West Paces Advisors Inc. raised its position in Regions Financial by 4.0% during the fourth quarter. West Paces Advisors Inc. now owns 10,505 shares of the bank’s stock valued at $285,000 after purchasing an additional 405 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RF has been the subject of several analyst reports. UBS Group raised their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Piper Sandler decreased their price target on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, March 30th. Robert W. Baird restated an “underperform” rating and issued a $28.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Royal Bank Of Canada lifted their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.28.

Regions Financial Stock Up 2.8%

NYSE:RF opened at $32.35 on Friday. The company has a market cap of $27.61 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.22 and a beta of 1.00. Regions Financial Corporation has a twelve month low of $22.70 and a twelve month high of $32.47. 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 fifty day simple moving average of $28.87 and a 200-day simple moving average of $28.22.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. Analysts anticipate that Regions Financial Corporation will post 2.6 EPS for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is presently 44.17%.

Insider Activity

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction 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 can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

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.