Allspring Global Investments Holdings LLC Has $216.87 Million Stock Holdings in Regions Financial Corporation $RF

Allspring Global Investments Holdings LLC boosted its position in shares of Regions Financial Corporation (NYSE:RF) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,972,531 shares of the bank’s stock after purchasing an additional 325,382 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Regions Financial were worth $216,866,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RF. American National Bank & Trust raised its stake in shares of Regions Financial by 2,433.3% during the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after purchasing an additional 1,022 shares in the last quarter. Bayforest Capital Ltd lifted its holdings in shares of Regions Financial by 637.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock valued at $27,000 after buying an additional 1,058 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of Regions Financial during the 1st quarter valued at about $36,000. Groupe la Francaise acquired a new stake in shares of Regions Financial during the 1st quarter valued at about $41,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Regions Financial during the 2nd quarter valued at about $44,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Down 4.5%

Shares of RF stock opened at $24.16 on Monday. The stock’s 50 day simple moving average is $26.30 and its 200 day simple moving average is $23.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a market capitalization of $21.56 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.15 and a beta of 1.02.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The business had revenue of $1.81 billion for the quarter. As a group, research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.265 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.06 annualized dividend and a yield of 4.4%. This is an increase from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s dividend payout ratio (DPR) is presently 49.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup lifted their price target on Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods lifted their price target on Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Stephens lifted their price target on Regions Financial from $24.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Finally, Morgan Stanley set a $32.00 price target on Regions Financial in a report on Monday, September 29th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.89.

Insider Activity at Regions Financial

In other Regions Financial news, Director Roger W. Jenkins purchased 4,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $25.48 per share, with a total value of $101,920.00. Following the transaction, the director directly owned 6,383 shares in the company, valued at approximately $162,638.84. This represents a 167.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the transaction, the executive vice president directly owned 90,915 shares in the company, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.