Toronto Dominion Bank Acquires 34,898 Shares of Regions Financial Co. (NYSE:RF)

Toronto Dominion Bank lifted its stake in Regions Financial Co. (NYSE:RF) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 487,152 shares of the bank’s stock after acquiring an additional 34,898 shares during the period. Toronto Dominion Bank owned approximately 0.05% of Regions Financial worth $11,458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Y.D. More Investments Ltd grew its holdings in shares of Regions Financial by 122.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC bought a new position in Regions Financial in the fourth quarter worth $28,000. Picton Mahoney Asset Management boosted its stake in Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after buying an additional 1,201 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in Regions Financial during the fourth quarter worth $32,000. Finally, Creative Capital Management Investments LLC bought a new stake in Regions Financial in the 4th quarter valued at $44,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $22.24 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $20.75 and a 200 day simple moving average of $23.19. Regions Financial Co. has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The firm has a market cap of $19.99 billion, a P/E ratio of 11.46, a P/E/G ratio of 1.93 and a beta of 0.97.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $0.37 EPS. Sell-side analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 4.50%. Regions Financial’s dividend payout ratio is currently 48.08%.

Insiders Place Their Bets

In related news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RF shares. TD Cowen began coverage on shares of Regions Financial in a research report on Thursday, May 15th. They set a “buy” rating and a $31.00 target price on the stock. The Goldman Sachs Group cut their price target on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Barclays decreased their price objective on Regions Financial from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. Morgan Stanley dropped their target price on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods cut their target price on Regions Financial from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.80.

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.