Victory Capital Management Inc. Sells 1,801,002 Shares of Regions Financial Co. (NYSE:RF)

Victory Capital Management Inc. lowered its position in Regions Financial Co. (NYSE:RF) by 60.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,164,124 shares of the bank’s stock after selling 1,801,002 shares during the quarter. Victory Capital Management Inc. owned about 0.13% of Regions Financial worth $27,159,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. bought a new stake in shares of Regions Financial in the first quarter valued at approximately $287,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Regions Financial by 9.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 818,028 shares of the bank’s stock worth $17,049,000 after acquiring an additional 69,291 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Regions Financial during the first quarter worth $829,000. Trustmark National Bank Trust Department boosted its holdings in shares of Regions Financial by 159.1% in the first quarter. Trustmark National Bank Trust Department now owns 27,151 shares of the bank’s stock worth $571,000 after acquiring an additional 16,671 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Regions Financial by 69.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 425,257 shares of the bank’s stock valued at $8,947,000 after purchasing an additional 174,169 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Up 0.3 %

Shares of NYSE RF opened at $26.36 on Monday. The stock has a market capitalization of $23.96 billion, a P/E ratio of 14.89, a PEG ratio of 2.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Co. has a one year low of $15.79 and a one year high of $26.73. The firm’s 50 day simple moving average is $23.61 and its two-hundred day simple moving average is $21.60.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business earned $0.49 EPS. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, analysts expect that Regions Financial Co. will post 2.1 EPS for the current fiscal year.

Regions Financial Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have commented on RF. Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $28.00 in a research note on Thursday, October 31st. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research report on Tuesday, October 29th. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Royal Bank of Canada raised their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Barclays upped their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial has a consensus rating of “Moderate Buy” and an average target price of $26.18.

About Regions Financial

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.