Regions Financial Corporation $RF Stock Holdings Boosted by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Regions Financial, now holding nearly 9 million shares worth approximately $216.87 million, marking a 3.8% rise in their investment during the 2nd quarter.
• Regions Financial recently announced a quarterly dividend increase to $0.265, up from $0.25, which represents an annualized dividend of $1.06 and a yield of 4.4%.
• The stock has seen fluctuations, with a twelve-month low of $17.74 and a high of $27.96, and currently has a price target consensus of approximately $27.89 from various analysts.

Allspring Global Investments Holdings LLC lifted its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 3.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,972,531 shares of the bank's stock after acquiring an additional 325,382 shares during the period. Allspring Global Investments Holdings LLC owned 1.00% of Regions Financial worth $216,866,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RF. American National Bank & Trust grew its position in Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank's stock valued at $25,000 after buying an additional 1,022 shares in the last quarter. Bayforest Capital Ltd grew its position in Regions Financial by 637.3% in 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 in the last quarter. Rossby Financial LCC bought a new position in Regions Financial in the 1st quarter valued at about $36,000. Grove Bank & Trust grew its position in Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after buying an additional 814 shares in the last quarter. Finally, Groupe la Francaise bought a new position in Regions Financial in the 1st quarter valued at about $41,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

NYSE:RF opened at $24.16 on Monday. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $26.30 and a 200-day moving average of $23.60. The firm has a market cap of $21.56 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.15 and a beta of 1.02.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The business had revenue of $1.81 billion for the quarter. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. Analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.265 dividend. The ex-dividend date was Tuesday, September 2nd. This is an increase from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.4%. Regions Financial's dividend payout ratio is currently 49.30%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RF shares. Stephens increased their target price on shares of Regions Financial from $24.00 to $29.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Cantor Fitzgerald started coverage on shares of Regions Financial in a research report on Wednesday, September 10th. They issued an "overweight" rating and a $30.00 target price for the company. Citigroup increased their target price on shares of Regions Financial from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Wall Street Zen upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Barclays restated an "underweight" rating and set a $27.00 price objective (up previously from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $27.89.

Insider Buying and Selling at Regions Financial

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

About Regions Financial

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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