Allspring Global Investments Holdings LLC Lowers Stake in Regions Financial Corporation (NYSE:RF)

Allspring Global Investments Holdings LLC cut its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,647,149 shares of the bank's stock after selling 91,470 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.95% of Regions Financial worth $186,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Foster Victor Wealth Advisors LLC boosted its position in shares of Regions Financial by 5.4% in the first quarter. Foster Victor Wealth Advisors LLC now owns 304,011 shares of the bank's stock worth $6,606,000 after acquiring an additional 15,652 shares during the last quarter. LBP AM SA boosted its position in shares of Regions Financial by 149.4% in the fourth quarter. LBP AM SA now owns 730,614 shares of the bank's stock worth $17,184,000 after acquiring an additional 437,691 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Regions Financial in the fourth quarter worth approximately $1,965,000. Kingswood Wealth Advisors LLC boosted its position in shares of Regions Financial by 62.4% in the first quarter. Kingswood Wealth Advisors LLC now owns 20,367 shares of the bank's stock worth $440,000 after acquiring an additional 7,822 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of Regions Financial by 4.0% in the fourth quarter. LPL Financial LLC now owns 939,376 shares of the bank's stock worth $22,094,000 after acquiring an additional 36,438 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Trading Up 0.2%

RF opened at $23.40 on Friday. The firm has a market capitalization of $21.03 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.85 and a beta of 0.96. The firm's 50 day moving average is $21.56 and its 200-day moving average is $22.38. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.36.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. During the same quarter last year, the firm posted $0.37 earnings per share. Analysts expect that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be paid a $0.25 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.27%. Regions Financial's dividend payout ratio (DPR) is presently 48.08%.

Wall Street Analysts Forecast Growth

RF has been the topic of several research analyst reports. Citigroup decreased their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Keefe, Bruyette & Woods decreased their target price on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group reduced their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. TD Cowen began coverage on shares of Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 price target on the stock. Finally, Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $25.80.

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.

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