Allspring Global Investments Holdings LLC Sells 178,849 Shares of Regions Financial Corporation $RF

Allspring Global Investments Holdings LLC trimmed its stake in Regions Financial Corporation (NYSE:RF) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,027,140 shares of the bank’s stock after selling 178,849 shares during the period. Allspring Global Investments Holdings LLC owned about 1.03% of Regions Financial worth $248,788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RF. Darwin Wealth Management LLC bought a new stake in shares of Regions Financial during the second quarter valued at approximately $25,000. United Community Bank bought a new position in Regions Financial in the third quarter worth $30,000. Salomon & Ludwin LLC acquired a new stake in Regions Financial during the third quarter worth $32,000. Spire Wealth Management boosted its stake in Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after buying an additional 557 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Regions Financial in the 2nd quarter valued at $33,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $25.25 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $27.92 and a 200 day simple moving average of $26.74. Regions Financial Corporation has a fifty-two week low of $17.74 and a fifty-two week high of $31.53. The firm has a market cap of $21.80 billion, a P/E ratio of 11.02, a P/E/G ratio of 0.91 and a beta of 1.02.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business posted $0.56 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial announced that its Board of Directors has approved a share repurchase program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the bank to repurchase up to 12.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is 46.29%.

Insider Activity at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the sale, the executive vice president directly owned 17,569 shares of the company’s stock, valued at $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RF. Truist Financial decreased their target price on shares of Regions Financial from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, March 23rd. Barclays lifted their price objective on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Morgan Stanley set a $31.00 target price on Regions Financial in a research report on Monday, January 19th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $31.00 price target on shares of Regions Financial in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $32.00 price objective on shares of Regions Financial in a report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus price target of $29.72.

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.