Victory Capital Management Inc. Has $618.86 Million Stock Holdings in Regions Financial Corporation $RF

Key Points

• Victory Capital Management boosted its stake in Regions Financial by 68.9% in the fourth quarter, ending with 22.8 million shares valued at about $618.9 million.
• Regions Financial reported Q1 earnings of $0.62 per share, slightly topping estimates, while revenue rose 5% year over year to $1.87 billion. Analysts now expect full-year EPS of 2.61.
• The bank announced a quarterly dividend of $0.265 per share, equivalent to an annualized yield of about 3.6%. The company also saw mixed analyst sentiment, with a consensus rating of Hold and a price target of $30.47.

Victory Capital Management Inc. increased its holdings in Regions Financial Corporation (NYSE:RF - Free Report) by 68.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,836,163 shares of the bank's stock after purchasing an additional 9,312,449 shares during the period. Victory Capital Management Inc. owned approximately 2.60% of Regions Financial worth $618,860,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RF. Darwin Wealth Management LLC bought a new stake in Regions Financial in the second quarter worth $25,000. SouthState Bank Corp boosted its holdings in Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock worth $30,000 after purchasing an additional 538 shares in the last quarter. Spire Wealth Management boosted its holdings in Regions Financial by 91.5% in the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank's stock worth $32,000 after purchasing an additional 557 shares in the last quarter. Princeton Global Asset Management LLC boosted its holdings in Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank's stock worth $32,000 after purchasing an additional 854 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in Regions Financial in the fourth quarter worth $33,000. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Up 1.2%

NYSE RF opened at $29.24 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50-day simple moving average of $27.79 and a 200 day simple moving average of $27.65. Regions Financial Corporation has a twelve month low of $21.40 and a twelve month high of $31.53. The stock has a market cap of $24.95 billion, a PE ratio of 12.18, a PEG ratio of 1.13 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter last year, the company earned $0.54 earnings per share. The firm's revenue was up 5.0% on a year-over-year basis. On average, research analysts forecast that Regions Financial Corporation will post 2.61 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, June 1st. Regions Financial's dividend payout ratio (DPR) is presently 44.17%.

Insider Buying and Selling at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RF shares. DA Davidson upped their price objective on shares of Regions Financial from $31.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $32.00 price objective on shares of Regions Financial in a report on Tuesday, March 3rd. Truist Financial restated a "hold" rating and set a $30.00 price target on shares of Regions Financial in a report on Tuesday, April 21st. JPMorgan Chase & Co. decreased their price target on shares of Regions Financial from $31.50 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Finally, Piper Sandler decreased their price target on shares of Regions Financial from $31.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, March 30th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Regions Financial has a consensus rating of "Hold" and a consensus price target of $30.47.

About Regions Financial

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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