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

Victory Capital Management Inc. increased its position in shares of Regions Financial Co. (NYSE:RF) by 20.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,403,666 shares of the bank’s stock after purchasing an additional 239,542 shares during the period. Victory Capital Management Inc. owned 0.15% of Regions Financial worth $33,014,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd grew its stake in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Regions Financial in the fourth quarter valued at $28,000. Truvestments Capital LLC purchased a new stake in Regions Financial in the third quarter valued at $37,000. Legacy Investment Solutions LLC purchased a new stake in Regions Financial in the third quarter valued at $37,000. Finally, Quarry LP lifted its position in Regions Financial by 29.5% in the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after acquiring an additional 394 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Trading Up 0.7 %

NYSE RF opened at $22.10 on Monday. The stock has a market capitalization 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 Co. has a 52-week low of $17.72 and a 52-week high of $27.96. The firm has a 50-day moving average price of $23.90 and a 200 day moving average price of $24.06. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. Equities research analysts expect that Regions Financial Co. will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on RF. Piper Sandler boosted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price target (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Barclays boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Finally, Compass Point boosted 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.