Toronto Dominion Bank Boosts Position in Regions Financial Co. (NYSE:RF)

Toronto Dominion Bank lifted its stake in Regions Financial Co. (NYSE:RF) by 69.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 452,254 shares of the bank’s stock after buying an additional 185,520 shares during the period. Toronto Dominion Bank’s holdings in Regions Financial were worth $10,551,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RF. Citigroup Inc. grew its holdings in shares of Regions Financial by 20.0% during the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock worth $35,445,000 after purchasing an additional 253,708 shares during the last quarter. Commerce Bank grew its stake in Regions Financial by 392.5% during the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after buying an additional 197,900 shares during the last quarter. National Pension Service increased its position in Regions Financial by 6.3% during the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after buying an additional 102,380 shares during the period. National Bank of Canada FI lifted its stake in Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after buying an additional 1,452,956 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Regions Financial in the third quarter valued at approximately $1,659,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RF has been the topic of a number of recent research reports. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Thursday, October 24th. Wedbush upped their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Truist Financial raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $24.00 to $26.00 in a research note on Thursday, October 24th. Finally, Compass Point lifted their target price on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.61.

Regions Financial Stock Up 0.2 %

Shares of NYSE RF opened at $25.10 on Friday. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 2.64 and a beta of 1.19. Regions Financial Co. has a 52 week low of $17.42 and a 52 week high of $27.96. The firm has a 50-day moving average price of $25.07 and a 200 day moving average price of $22.47. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. Regions Financial’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. Equities research analysts anticipate that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.98%. Regions Financial’s payout ratio is 56.50%.

Regions Financial Profile

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.