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

Allspring Global Investments Holdings LLC grew its holdings in Regions Financial Co. (NYSE:RF) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,738,619 shares of the bank’s stock after buying an additional 112,885 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Regions Financial were worth $203,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RF. State Street Corp raised its holdings in shares of Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after buying an additional 7,791,399 shares during the period. National Bank of Canada FI lifted its position in shares of Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after purchasing an additional 1,452,956 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Regions Financial in the third quarter valued at approximately $17,589,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Regions Financial by 2,309.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 653,963 shares of the bank’s stock valued at $15,381,000 after purchasing an additional 626,820 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Piper Sandler lifted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group boosted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Citigroup raised their price target on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Regions Financial currently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $24.40 on Wednesday. The stock has a market capitalization 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 firm’s fifty day simple moving average is $24.40 and its 200-day simple moving average is $23.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a 12 month low of $17.61 and a 12 month high of $27.96.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, equities analysts forecast that Regions Financial Co. will post 2.26 earnings per share for the current year.

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.