Toronto Dominion Bank lifted its stake in Regions Financial Corporation (NYSE:RF) by 24.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 408,156 shares of the bank’s stock after purchasing an additional 81,188 shares during the period. Toronto Dominion Bank’s holdings in Regions Financial Corporation were worth $5,974,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. OMERS ADMINISTRATION Corp bought a new position in Regions Financial Corporation in the second quarter valued at approximately $1,259,000. Renaissance Technologies LLC bought a new position in Regions Financial Corporation in the first quarter valued at approximately $56,133,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Regions Financial Corporation by 17.9% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 295,359 shares of the bank’s stock valued at $4,324,000 after acquiring an additional 44,909 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Regions Financial Corporation by 45.6% in the second quarter. State of Alaska Department of Revenue now owns 77,823 shares of the bank’s stock valued at $1,139,000 after acquiring an additional 24,390 shares during the last quarter. Finally, Koch Industries Inc. bought a new position in Regions Financial Corporation in the second quarter valued at approximately $614,000. 75.68% of the stock is owned by institutional investors and hedge funds.
In other Regions Financial Corporation news, EVP Scott M. Peters sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $15.84, for a total transaction of $396,000.00. Following the completion of the sale, the executive vice president now directly owns 121,459 shares of the company’s stock, valued at approximately $1,923,910.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan W. Matlock sold 10,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $15.23, for a total transaction of $152,300.00. Following the sale, the director now directly owns 32,188 shares of the company’s stock, valued at $490,223.24. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock valued at $1,520,050 over the last three months. 0.52% of the stock is currently owned by insiders.
A number of brokerages have recently weighed in on RF. Royal Bank Of Canada reissued a “hold” rating and set a $16.00 price target on shares of Regions Financial Corporation in a research report on Wednesday. Nomura reissued a “neutral” rating and set a $17.00 price target (up from $16.00) on shares of Regions Financial Corporation in a research report on Thursday. FBR & Co reissued a “hold” rating and set a $16.00 price target on shares of Regions Financial Corporation in a research report on Wednesday. Robert W. Baird cut shares of Regions Financial Corporation from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a research report on Monday, October 2nd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $16.00 price objective (up from $15.00) on shares of Regions Financial Corporation in a research report on Monday, October 9th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $15.10.
Regions Financial Corporation (NYSE:RF) traded down 0.57% during mid-day trading on Friday, reaching $15.72. 11,897,783 shares of the company’s stock were exchanged. Regions Financial Corporation has a 52-week low of $10.32 and a 52-week high of $16.03. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 16.43 and a beta of 1.34. The company has a 50-day moving average of $14.62 and a 200-day moving average of $14.33.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.25 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. Regions Financial Corporation had a net margin of 20.14% and a return on equity of 7.56%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Equities research analysts anticipate that Regions Financial Corporation will post $1.00 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, December 7th. Regions Financial Corporation’s dividend payout ratio is 37.50%.
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Regions Financial Corporation Profile
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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