Regions Financial Co. (NYSE:RF) Position Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Regions Financial Co. (NYSE:RF - Free Report) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,603,852 shares of the bank's stock after selling 555,762 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.82% of Regions Financial worth $147,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Toroso Investments LLC grew its holdings in shares of Regions Financial by 5.0% during the 4th quarter. Toroso Investments LLC now owns 10,722 shares of the bank's stock worth $231,000 after purchasing an additional 508 shares during the period. Whittier Trust Co. grew its holdings in shares of Regions Financial by 16.5% during the 4th quarter. Whittier Trust Co. now owns 3,881 shares of the bank's stock worth $75,000 after purchasing an additional 549 shares during the period. Pinnacle Financial Partners Inc grew its holdings in shares of Regions Financial by 0.4% during the 4th quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank's stock worth $2,797,000 after purchasing an additional 606 shares during the period. SG Americas Securities LLC grew its holdings in shares of Regions Financial by 2.6% during the 4th quarter. SG Americas Securities LLC now owns 25,569 shares of the bank's stock worth $496,000 after purchasing an additional 654 shares during the period. Finally, Kinneret Advisory LLC grew its holdings in shares of Regions Financial by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 29,352 shares of the bank's stock worth $658,000 after purchasing an additional 656 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RF shares. Argus cut Regions Financial from a "buy" rating to a "hold" rating in a report on Tuesday, January 23rd. Morgan Stanley raised their target price on Regions Financial from $21.00 to $27.00 and gave the company an "overweight" rating in a report on Tuesday, January 30th. Jefferies Financial Group upgraded Regions Financial from a "hold" rating to a "buy" rating and raised their target price for the company from $15.00 to $22.00 in a report on Tuesday, January 9th. Royal Bank of Canada raised their target price on Regions Financial from $19.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, January 22nd. Finally, Evercore ISI raised their target price on Regions Financial from $20.00 to $22.00 and gave the company an "in-line" rating in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Regions Financial currently has a consensus rating of "Hold" and a consensus target price of $20.39.

Regions Financial Stock Up 1.4 %

Shares of RF traded up $0.29 during mid-day trading on Tuesday, reaching $20.69. The company's stock had a trading volume of 5,000,555 shares, compared to its average volume of 8,704,609. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $21.08. The stock has a market cap of $19.01 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 1.46 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. The company's 50 day moving average is $19.12 and its 200 day moving average is $17.86.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Friday, January 19th. The bank reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.09). Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the previous year, the company posted $0.67 EPS. The company's revenue was down 9.5% compared to the same quarter last year. Equities analysts anticipate that Regions Financial Co. will post 1.97 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a yield of 4.64%. Regions Financial's dividend payout ratio is presently 45.93%.

Regions Financial Company 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.