Regions Financial Co. (NYSE:RF) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in shares of Regions Financial Co. (NYSE:RF) by 20.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,403,666 shares of the bank’s stock after purchasing an additional 239,542 shares during the quarter. Victory Capital Management Inc.’s holdings in Regions Financial were worth $33,014,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. State Street Corp grew its position in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Regions Financial by 1.4% in the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after purchasing an additional 315,605 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Regions Financial by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,738,619 shares of the bank’s stock valued at $203,273,000 after purchasing an additional 112,885 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Regions Financial by 0.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,226,353 shares of the bank’s stock valued at $191,921,000 after purchasing an additional 61,426 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Performance

NYSE:RF opened at $22.10 on Monday. The firm’s 50 day moving average is $23.90 and its two-hundred day moving average is $24.06. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The company has a market cap of $20.01 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.93 and a beta of 1.19.

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

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio is presently 51.55%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Compass Point increased their price target on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company increased their price target on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Barclays raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Truist Financial raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Finally, Citigroup raised their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and an average target price of $27.67.

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.