Victory Capital Management Inc. Acquires 606,647 Shares of Regions Financial Co. (NYSE:RF)

Victory Capital Management Inc. grew its holdings in shares of Regions Financial Co. (NYSE:RF) by 19.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,661,093 shares of the bank’s stock after purchasing an additional 606,647 shares during the period. Victory Capital Management Inc. owned about 0.39% of Regions Financial worth $70,952,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC increased its stake in Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after acquiring an additional 750 shares during the period. HM Payson & Co. grew its stake in Regions Financial by 2,000.0% during the third quarter. HM Payson & Co. now owns 2,100 shares of the bank’s stock worth $36,000 after buying an additional 2,000 shares in the last quarter. West Paces Advisors Inc. increased its holdings in Regions Financial by 277.2% in the 3rd quarter. West Paces Advisors Inc. now owns 2,384 shares of the bank’s stock valued at $41,000 after buying an additional 1,752 shares during the period. Baker Avenue Asset Management LP raised its position in shares of Regions Financial by 69.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 2,441 shares of the bank’s stock valued at $42,000 after buying an additional 1,000 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Regions Financial by 113.0% during the 4th quarter. Global Retirement Partners LLC now owns 2,492 shares of the bank’s stock worth $45,000 after acquiring an additional 1,322 shares during the period. 79.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RF shares. Morgan Stanley decreased their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Evercore ISI upped their price objective on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $23.00 in a research note on Monday, March 18th. Finally, Argus cut shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average target price of $20.34.

Regions Financial Trading Up 0.8 %

NYSE RF opened at $19.80 on Friday. The firm has a market capitalization of $18.19 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21. The business’s 50-day moving average price is $19.55 and its two-hundred day moving average price is $18.21. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $21.08.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.75 billion. During the same quarter in the previous year, the business posted $0.62 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. On average, analysts expect that Regions Financial Co. will post 1.95 EPS for the current year.

Regions Financial Announces Dividend

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

Insider Transactions at Regions Financial

In related news, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at approximately $968,500. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

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.