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

Victory Capital Management Inc. lifted its position in shares of Regions Financial Co. (NYSE:RF - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent Form 13F 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 quarter. Victory Capital Management Inc. owned 0.39% of Regions Financial worth $70,952,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Regions Financial by 8.4% during the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank's stock valued at $925,780,000 after purchasing an additional 4,160,768 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in Regions Financial by 162.1% in the 3rd quarter. Bahl & Gaynor Inc. now owns 5,904,595 shares of the bank's stock valued at $101,559,000 after acquiring an additional 3,651,390 shares in the last quarter. Vanguard Group Inc. boosted its stake in Regions Financial by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 114,585,518 shares of the bank's stock worth $1,970,871,000 after purchasing an additional 2,982,310 shares during the period. Invesco Ltd. increased its holdings in Regions Financial by 15.1% during the 3rd quarter. Invesco Ltd. now owns 11,086,142 shares of the bank's stock worth $190,682,000 after purchasing an additional 1,455,499 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Regions Financial by 13.4% in the 3rd quarter. Northern Trust Corp now owns 10,761,543 shares of the bank's stock valued at $185,099,000 after purchasing an additional 1,268,045 shares during the period. Institutional investors own 79.39% of the company's stock.

Regions Financial Stock Performance

RF stock traded up $0.16 during trading hours on Friday, hitting $19.80. 4,133,671 shares of the stock were exchanged, compared to its average volume of 7,792,067. The company has a 50-day simple moving average of $19.55 and a two-hundred day simple moving average of $18.22. 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. 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 (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm earned $0.62 EPS. The business's revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts forecast that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Friday, May 31st. Regions Financial's dividend payout ratio (DPR) is currently 52.17%.

Insider Activity at Regions Financial

In other news, Director William C. Rhodes III purchased 50,000 shares of the business's stock in a transaction dated Tuesday, April 23rd. The stock was bought at an average price of $19.37 per share, with a total value of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RF shares. Morgan Stanley decreased their price target on shares of Regions Financial from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Monday, April 22nd. StockNews.com cut Regions Financial from a "hold" rating to a "sell" rating in a report on Tuesday, February 6th. Evercore ISI increased their price target on Regions Financial from $20.00 to $22.00 and gave the company an "in-line" rating in a research report on Thursday, March 28th. Citigroup upgraded Regions Financial from a "neutral" rating to a "buy" rating and raised their price target for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Finally, Jefferies Financial Group raised Regions Financial from a "hold" rating to a "buy" rating and increased their price objective for the company from $15.00 to $22.00 in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Regions Financial currently has a consensus rating of "Hold" and an average target price of $20.34.

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.