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

Victory Capital Management Inc. decreased its stake in Regions Financial Co. (NYSE:RF - Free Report) by 60.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 approximately 0.13% of Regions Financial worth $27,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RF. EntryPoint Capital LLC acquired a new stake in shares of Regions Financial in the first quarter valued at $26,000. American National Bank & Trust grew its holdings 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 worth $27,000 after buying an additional 1,114 shares in the last quarter. Quarry LP lifted its holdings in shares of Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank's stock worth $27,000 after acquiring an additional 816 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in 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 worth $30,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Regions Financial during the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Trading Down 0.1 %

NYSE RF traded down $0.03 on Monday, hitting $26.33. The company's stock had a trading volume of 6,366,197 shares, compared to its average volume of 7,947,292. Regions Financial Co. has a 1-year low of $15.79 and a 1-year high of $26.73. The company's 50-day moving average is $23.61 and its 200 day moving average is $21.61. The firm has a market cap of $23.93 billion, a PE ratio of 14.89, a PEG ratio of 2.76 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate 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 business posted $0.49 earnings per share. Regions Financial's revenue was down 3.7% on a year-over-year basis. As a group, analysts predict that Regions Financial Co. will post 2.1 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.80%. Regions Financial's dividend payout ratio (DPR) is presently 56.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RF shares. Argus raised shares of Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price target for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised Regions Financial from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $24.00 to $26.00 in a research note on Thursday, October 24th. Royal Bank of Canada boosted their price target on shares of Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, July 22nd. Morgan Stanley boosted their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group lifted their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. One equities research 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 MarketBeat.com, Regions Financial currently has an average rating of "Moderate Buy" and a consensus 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.