Allspring Global Investments Holdings LLC Boosts Holdings in Regions Financial Co. (NYSE:RF)

Allspring Global Investments Holdings LLC raised its position in Regions Financial Co. (NYSE:RF) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,738,619 shares of the bank’s stock after acquiring an additional 112,885 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.96% of Regions Financial worth $203,273,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. boosted its stake in Regions Financial by 20.0% in the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after purchasing an additional 253,708 shares in the last quarter. Aprio Wealth Management LLC purchased a new stake in Regions Financial during the 4th quarter valued at about $1,247,000. Nordea Investment Management AB increased its holdings in shares of Regions Financial by 60.4% in the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock valued at $6,220,000 after purchasing an additional 99,115 shares during the period. Commerce Bank raised its stake in shares of Regions Financial by 392.5% in the third quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after purchasing an additional 197,900 shares during the last quarter. Finally, Vest Financial LLC lifted its stake in Regions Financial by 20.4% during the 4th quarter. Vest Financial LLC now owns 1,479,865 shares of the bank’s stock valued at $34,806,000 after acquiring an additional 250,729 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $24.40 on Wednesday. The business’s 50 day moving average price is $24.40 and its 200 day moving average price is $23.78. The company has a market cap of $22.17 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.97 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial Co. has a one year low of $17.61 and a one year high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts predict that Regions Financial Co. will post 2.26 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RF. Citigroup lifted their price objective on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Truist Financial raised their target price on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. Wells Fargo & Company boosted their price target on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Compass Point increased their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays raised their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.67.

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.