TD Asset Management Inc Sells 20,565 Shares of Regions Financial Corporation $RF

TD Asset Management Inc reduced its stake in Regions Financial Corporation (NYSE:RF) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 531,423 shares of the bank’s stock after selling 20,565 shares during the quarter. TD Asset Management Inc owned about 0.06% of Regions Financial worth $16,049,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new stake in Regions Financial during the 2nd quarter valued at approximately $25,000. SouthState Bank Corp lifted its position in shares of Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after purchasing an additional 538 shares during the period. Leonteq Securities AG bought a new stake in shares of Regions Financial in the 4th quarter valued at $33,000. DV Equities LLC bought a new stake in shares of Regions Financial in the 4th quarter valued at $33,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of Regions Financial during the second quarter worth $37,000. 79.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RF. Morgan Stanley lifted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $34.00 price target on shares of Regions Financial in a research report on Monday, July 20th. Citigroup increased their price target on Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Truist Financial lifted their price objective on Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company boosted their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.24.

Regions Financial Price Performance

Shares of NYSE RF opened at $31.91 on Friday. The firm’s 50-day moving average price is $30.44 and its 200-day moving average price is $28.70. Regions Financial Corporation has a 1-year low of $22.70 and a 1-year high of $32.47. The firm has a market capitalization of $27.18 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.21 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. Equities research analysts anticipate that Regions Financial Corporation will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.8%. Regions Financial’s dividend payout ratio is currently 43.27%.

About Regions Financial

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.