Victory Capital Management Inc. Has $59.42 Million Position in Regions Financial Co. (NYSE:RF)

Victory Capital Management Inc. increased its holdings in shares of Regions Financial Co. (NYSE:RF - Free Report) by 17.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,965,126 shares of the bank's stock after purchasing an additional 433,319 shares during the quarter. Victory Capital Management Inc. owned approximately 0.32% of Regions Financial worth $59,421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RF. EntryPoint Capital LLC purchased a new stake in Regions Financial during the 1st quarter worth about $26,000. MV Capital Management Inc. grew its stake in shares of Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank's stock valued at $30,000 after buying an additional 618 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Regions Financial during the 4th quarter worth $28,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock valued at $30,000 after buying an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Regions Financial during the second quarter valued at approximately $32,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RF shares. StockNews.com cut shares of Regions Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, September 3rd. Truist Financial lifted their price target on Regions Financial from $21.00 to $23.00 and gave the stock a "hold" rating in a research note on Monday, July 22nd. Citigroup upped their price objective on shares of Regions Financial from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Evercore ISI decreased their price objective on Regions Financial from $22.00 to $21.00 and set an "in-line" rating for the company in a research report on Tuesday, June 25th. Finally, Morgan Stanley upped their target price on Regions Financial from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $21.51.

Regions Financial Trading Up 1.7 %

RF stock traded up $0.38 during trading on Monday, hitting $22.55. The company had a trading volume of 5,743,141 shares, compared to its average volume of 7,990,010. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 2.84 and a beta of 1.17. Regions Financial Co. has a 12 month low of $13.72 and a 12 month high of $23.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $21.59 and a 200-day moving average price of $20.16.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.03. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm's quarterly revenue was down 11.5% on a year-over-year basis. During the same period last year, the business posted $0.59 earnings per share. As a group, analysts predict that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. This is an increase from Regions Financial's previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.43%. Regions Financial's payout ratio is presently 54.35%.

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.