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

Key Points

• Allspring Global Investments reduced its Regions Financial stake by 1.1%, selling 67,008 shares in the third quarter. It still held about 6.13 million shares, valued at roughly $165.2 million.
• Regions reported quarterly EPS of $0.73, beating the $0.67 consensus estimate; revenue was $1.99 billion, up 3% year over year. The bank also announced a $0.30 quarterly dividend, equivalent to a 4.2% yield.
• Analysts’ consensus rating was Hold, with a $31 price target. Shares opened at $28.32, within a 52-week range of $23.59 to $32.47.

Allspring Global Investments Holdings LLC cut its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,128,177 shares of the bank's stock after selling 67,008 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.72% of Regions Financial worth $165,216,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RF. WPG Advisers LLC raised its stake in shares of Regions Financial by 83.5% during the second quarter. WPG Advisers LLC now owns 813 shares of the bank's stock worth $25,000 after acquiring an additional 370 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new stake in Regions Financial in the second quarter worth $25,000. Trust Co. of Vermont bought a new stake in Regions Financial in the second quarter worth $26,000. Gables Capital Management Inc. purchased a new stake in Regions Financial during the second quarter valued at about $30,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Regions Financial during the second quarter valued at about $36,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Trading Up 0.1%

RF opened at $28.32 on Monday. Regions Financial Corporation has a one year low of $23.59 and a one year high of $32.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.82 and a quick ratio of 0.81. The business has a 50 day simple moving average of $28.34 and a two-hundred day simple moving average of $28.70. The firm has a market capitalization of $24.13 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.14 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, October 16th. The bank reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.06. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The business's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. Analysts predict that Regions Financial Corporation will post 2.70 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Regions Financial's dividend payout ratio (DPR) is currently 47.06%.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on Regions Financial from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday, September 28th. UBS Group dropped their target price on Regions Financial from $33.00 to $30.00 and set a "neutral" rating for the company in a report on Monday, October 5th. Royal Bank Of Canada reduced their price target on Regions Financial from $34.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, October 19th. Stephens reaffirmed an "outperform" rating on shares of Regions Financial in a research note on Monday, October 19th. Finally, Citigroup lowered their price objective on Regions Financial from $36.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, October 21st. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Regions Financial has a consensus rating of "Hold" and a consensus price target of $31.00.

Regions Financial Profile

Regions Financial Corporation NYSE: RF is a bank holding company headquartered in Birmingham, Alabama. Its principal subsidiary, Regions Bank, provides banking and related financial services to individuals, businesses and institutions.

The company's services include consumer and commercial banking, lending, mortgage banking, treasury and payment services, and wealth management. Regions also offers services such as investment and trust management through its wealth business.

Regions traces its history to First Alabama Bancshares, established in 1971, and serves customers across the South and parts of the Midwest and Texas.

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