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

TD Asset Management Inc reduced its position in Regions Financial Corporation (NYSE:RF) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 526,054 shares of the bank’s stock after selling 21,277 shares during the quarter. TD Asset Management Inc owned approximately 0.06% of Regions Financial worth $13,872,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAM Holding AG bought a new stake in Regions Financial in the third quarter valued at $1,760,000. Allspring Global Investments Holdings LLC lifted its holdings in Regions Financial by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after purchasing an additional 233,458 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in Regions Financial by 6.8% in the third quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock valued at $18,204,000 after buying an additional 44,252 shares in the last quarter. iA Global Asset Management Inc. bought a new stake in Regions Financial during the third quarter worth about $1,378,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of Regions Financial by 111.2% during the third quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock worth $7,662,000 after buying an additional 152,987 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RF. The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 target price on shares of Regions Financial in a report on Tuesday, January 6th. Barclays lifted their price objective on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Wells Fargo & Company cut Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a report on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Six research 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $29.84.

Regions Financial Stock Performance

Regions Financial stock opened at $27.79 on Monday. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $31.53. The company’s 50-day moving average is $28.68 and its two-hundred day moving average is $26.83. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The company has a market cap of $24.00 billion, a PE ratio of 12.13, a PEG ratio of 0.98 and a beta of 1.02.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial announced that its Board of Directors has authorized 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Regions Financial Announces Dividend

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

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.