Victory Capital Management Inc. Increases Holdings in Regions Financial Co. (NYSE:RF)

Victory Capital Management Inc. increased its position in Regions Financial Co. (NYSE:RF) by 19.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,661,093 shares of the bank’s stock after buying an additional 606,647 shares during the quarter. Victory Capital Management Inc.’s holdings in Regions Financial were worth $70,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Resource Council bought a new position in shares of Regions Financial during the fourth quarter valued at about $1,944,000. Vestmark Advisory Solutions Inc. increased its stake in Regions Financial by 126.3% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank’s stock worth $455,000 after purchasing an additional 14,756 shares during the period. abrdn plc increased its stake in Regions Financial by 17.0% in the 4th quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock worth $45,546,000 after purchasing an additional 341,878 shares during the period. LPL Financial LLC lifted its position in Regions Financial by 19.6% in the third quarter. LPL Financial LLC now owns 582,491 shares of the bank’s stock valued at $10,019,000 after purchasing an additional 95,271 shares during the last quarter. Finally, Vaughan David Investments LLC IL boosted its stake in shares of Regions Financial by 48.9% during the fourth quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank’s stock valued at $47,886,000 after purchasing an additional 811,174 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Activity at Regions Financial

In related news, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $19.80 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $19.55 and a two-hundred day simple moving average of $18.21. The firm has a market capitalization of $18.19 billion, a P/E ratio of 10.76, a P/E/G ratio of 1.44 and a beta of 1.21. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $21.08.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the firm earned $0.62 EPS. The company’s revenue was down 10.5% on a year-over-year basis. On average, equities analysts forecast that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 4.85%. Regions Financial’s payout ratio is currently 52.17%.

Wall Street Analysts Forecast Growth

RF has been the subject of a number of recent analyst reports. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $23.00 in a report on Monday, March 18th. Evercore ISI increased their target price on shares of Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Truist Financial lowered their price target on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Finally, Royal Bank of Canada lifted their price objective on Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $20.34.

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.