TD Asset Management Inc Boosts Stake in Regions Financial Corporation $RF

TD Asset Management Inc raised its holdings in Regions Financial Corporation (NYSE:RF) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 560,213 shares of the bank’s stock after purchasing an additional 34,159 shares during the quarter. TD Asset Management Inc’s holdings in Regions Financial were worth $15,182,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cibc World Market Inc. raised its position in Regions Financial by 5.3% in the fourth quarter. Cibc World Market Inc. now owns 117,008 shares of the bank’s stock valued at $3,171,000 after purchasing an additional 5,873 shares during the period. Sivia Capital Partners LLC purchased a new stake in Regions Financial in the fourth quarter valued at $521,000. CIBC Asset Management Inc raised its position in Regions Financial by 52.8% in the fourth quarter. CIBC Asset Management Inc now owns 226,139 shares of the bank’s stock valued at $6,128,000 after purchasing an additional 78,182 shares during the period. Marble Wealth LLC purchased a new stake in Regions Financial in the fourth quarter valued at $1,024,000. Finally, Bank of New York Mellon Corp raised its position in Regions Financial by 12.9% in the fourth quarter. Bank of New York Mellon Corp now owns 6,460,310 shares of the bank’s stock valued at $175,074,000 after purchasing an additional 736,296 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Piper Sandler reduced their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. DA Davidson lifted their target price on Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Brean Capital started coverage on Regions Financial in a research report on Thursday, March 12th. They issued a “neutral” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, March 3rd. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.47.

Regions Financial Trading Up 0.2%

RF opened at $28.59 on Tuesday. Regions Financial Corporation has a 12 month low of $21.40 and a 12 month high of $31.53. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.11 and a beta of 1.00. 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 business has a fifty day moving average price of $27.54 and a 200 day moving average price of $27.54.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the firm posted $0.54 EPS. Regions Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts expect that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s payout ratio is presently 44.17%.

Regions Financial Company Profile

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.