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

Victory Capital Management Inc. increased its holdings in Regions Financial Corporation (NYSE:RF) by 68.9% in the 4th quarter, according to its most recent disclosure with the Securities & 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.’s holdings in Regions Financial were worth $618,860,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new position in Regions Financial in the second quarter worth about $25,000. SouthState Bank Corp raised its position 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 raised its position 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 raised its position 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 acquired a new stake in shares of Regions Financial during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $29.24 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $24.95 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.13 and a beta of 1.00. 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 fifty-two week low of $21.40 and a fifty-two week high of $31.53.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. Regions Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share. Sell-side analysts predict that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. DA Davidson raised 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. Royal Bank Of Canada raised their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Truist Financial reaffirmed a “hold” rating and set a $30.00 price objective on shares of Regions Financial in a report on Tuesday, April 21st. Morgan Stanley dropped their price objective on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, Piper Sandler dropped their price objective 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 investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average target price of $30.47.

Insider Buying and Selling at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

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.