TD Asset Management Inc Has $12.87 Million Position in Regions Financial Corporation $RF

TD Asset Management Inc reduced its stake in Regions Financial Corporation (NYSE:RF) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 547,331 shares of the bank’s stock after selling 8,471 shares during the period. TD Asset Management Inc owned 0.06% of Regions Financial worth $12,873,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Invesco Ltd. grew its stake in shares of Regions Financial by 35.7% in the first quarter. Invesco Ltd. now owns 20,990,446 shares of the bank’s stock valued at $456,122,000 after acquiring an additional 5,521,772 shares in the last quarter. Nuveen LLC acquired a new position in shares of Regions Financial in the first quarter valued at about $53,018,000. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank’s stock valued at $675,645,000 after acquiring an additional 1,909,162 shares in the last quarter. Amundi grew its stake in shares of Regions Financial by 20.4% in the first quarter. Amundi now owns 10,010,267 shares of the bank’s stock valued at $198,721,000 after acquiring an additional 1,696,347 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Regions Financial by 3.7% in the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank’s stock valued at $960,717,000 after acquiring an additional 1,562,512 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RF has been the topic of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Regions Financial in a research note on Wednesday, October 8th. Morgan Stanley set a $32.00 price target on shares of Regions Financial in a research note on Monday, September 29th. Keefe, Bruyette & Woods upped their price target on shares of Regions Financial from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. DA Davidson upped their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, Citigroup upped their price objective on shares of Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.79.

Regions Financial Trading Up 0.8%

RF opened at $23.54 on Friday. Regions Financial Corporation has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a 50-day simple moving average of $26.23 and a 200 day simple moving average of $23.68. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $21.00 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 1.12 and a beta of 1.02.

Regions Financial (NYSE:RF) last posted its earnings results on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. The firm had revenue of $1.81 billion during the quarter. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. Analysts predict that Regions Financial Corporation will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.265 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.5%. Regions Financial’s dividend payout ratio is 49.30%.

Insider Transactions at Regions Financial

In related news, Director Roger W. Jenkins bought 4,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares of the company’s stock, valued at $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David R. Keenan sold 30,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the transaction, the executive vice president directly owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This trade represents a 24.81% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.