Victory Capital Management Inc. Decreases Stock Holdings in Regions Financial Co. (NYSE:RF)

Victory Capital Management Inc. reduced its position in shares of Regions Financial Co. (NYSE:RF) by 60.7% in the third quarter, HoldingsChannel.com reports. The firm owned 1,164,124 shares of the bank’s stock after selling 1,801,002 shares during the period. Victory Capital Management Inc.’s holdings in Regions Financial were worth $27,159,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. EntryPoint Capital LLC purchased a new position in Regions Financial during the 1st quarter valued at $26,000. American National Bank & Trust increased its position in shares of Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after buying an additional 1,114 shares during the period. Quarry LP raised its stake in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after buying an additional 1,256 shares during the period. Finally, Innealta Capital LLC bought a new stake in Regions Financial during the 2nd quarter valued at approximately $32,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Price Performance

Shares of NYSE:RF opened at $26.36 on Monday. The business has a 50-day simple moving average of $23.61 and a two-hundred day simple moving average of $21.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $23.96 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16. Regions Financial Co. has a fifty-two week low of $15.79 and a fifty-two week high of $26.73.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $0.49 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts expect that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s payout ratio is currently 56.50%.

Analysts Set New Price Targets

A number of research analysts have recently commented on RF shares. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $24.00 to $26.00 in a research note on Thursday, October 24th. Argus upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Thursday, October 24th. Wedbush increased their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and an average price target of $26.18.

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.