TD Asset Management Inc Sells 21,277 Shares of Regions Financial Corporation $RF

TD Asset Management Inc trimmed its holdings in Regions Financial Corporation (NYSE:RF) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 526,054 shares of the bank’s stock after selling 21,277 shares during the period. TD Asset Management Inc’s holdings in Regions Financial were worth $13,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Darwin Wealth Management LLC acquired a new stake in Regions Financial during the 2nd quarter worth approximately $25,000. United Community Bank acquired a new position in Regions Financial in the 3rd quarter worth $30,000. Salomon & Ludwin LLC bought a new position in Regions Financial during the 3rd quarter worth about $32,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Regions Financial in the 2nd quarter valued at about $33,000. Finally, Clearstead Trust LLC lifted its holdings in shares of Regions Financial by 574.5% in the second quarter. Clearstead Trust LLC now owns 1,430 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,218 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

NYSE:RF opened at $27.79 on Monday. Regions Financial Corporation has a 12-month low of $17.74 and a 12-month high of $31.53. The firm has a market capitalization of $24.00 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 0.98 and a beta of 1.02. The stock’s 50 day moving average price is $28.68 and its two-hundred day moving average price is $26.83. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $0.265 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 3.8%. Regions Financial’s dividend payout ratio is 46.29%.

Regions Financial declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 10th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

RF has been the subject of a number of research reports. Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Truist Financial raised their price target on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Piper Sandler boosted their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group restated a “buy” rating and set a $32.00 target price on shares of Regions Financial in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.84.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the sale, the executive vice president directly owned 17,569 shares in the company, valued at $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

About Regions Financial

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.