Regions Financial Corp (RF) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. lifted its stake in Regions Financial Corp (NYSE:RF) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,437 shares of the bank’s stock after purchasing an additional 12,435 shares during the quarter. Victory Capital Management Inc.’s holdings in Regions Financial were worth $2,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Engineers Gate Manager LP bought a new stake in Regions Financial in the 4th quarter worth about $568,000. Quantitative Systematic Strategies LLC bought a new stake in Regions Financial in the 4th quarter worth about $2,155,000. Iberiabank Corp increased its holdings in Regions Financial by 12.1% in the 4th quarter. Iberiabank Corp now owns 48,971 shares of the bank’s stock worth $846,000 after buying an additional 5,300 shares in the last quarter. Westbourne Investment Advisors Inc. increased its holdings in Regions Financial by 5.0% in the 4th quarter. Westbourne Investment Advisors Inc. now owns 78,960 shares of the bank’s stock worth $1,364,000 after buying an additional 3,770 shares in the last quarter. Finally, IFC Holdings Incorporated FL increased its holdings in Regions Financial by 70.4% in the 4th quarter. IFC Holdings Incorporated FL now owns 32,425 shares of the bank’s stock worth $560,000 after buying an additional 13,396 shares in the last quarter. 76.33% of the stock is owned by hedge funds and other institutional investors.
Regions Financial Corp (NYSE RF) opened at $19.37 on Friday. The stock has a market capitalization of $22,470.00, a P/E ratio of 18.81, a P/E/G ratio of 1.47 and a beta of 1.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 0.86. Regions Financial Corp has a 52 week low of $13.00 and a 52 week high of $20.21.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, March 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.86%. Regions Financial’s dividend payout ratio (DPR) is presently 34.95%.
In related news, EVP Scott M. Peters sold 25,627 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $19.50, for a total value of $499,726.50. Following the transaction, the executive vice president now directly owns 240,796 shares of the company’s stock, valued at approximately $4,695,522. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ronald G. Smith sold 92,301 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.32, for a total value of $1,783,255.32. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Several research firms recently commented on RF. Morgan Stanley lifted their price objective on Regions Financial from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. ValuEngine upgraded Regions Financial from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Barclays reiterated a “sell” rating and issued a $20.00 price objective on shares of Regions Financial in a report on Tuesday, January 23rd. B. Riley reiterated a “hold” rating and issued a $19.00 price objective on shares of Regions Financial in a report on Monday, January 22nd. Finally, Sandler O’Neill upgraded Regions Financial from a “hold” rating to a “buy” rating in a report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.24.
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About Regions Financial
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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