TD Asset Management Inc Has $16.05 Million Position in Regions Financial Corporation $RF

TD Asset Management Inc lessened its holdings in shares of Regions Financial Corporation (NYSE:RF) by 3.7% in the second quarter, HoldingsChannel.com reports. The firm owned 531,423 shares of the bank’s stock after selling 20,565 shares during the period. TD Asset Management Inc’s holdings in Regions Financial were worth $16,049,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after buying an additional 1,278 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Regions Financial by 40.7% in the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after acquiring an additional 22,216 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of Regions Financial by 0.7% in the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock worth $1,687,000 after acquiring an additional 511 shares during the last quarter. Federated Hermes Inc. lifted its position in Regions Financial by 81.2% in the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after acquiring an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Regions Financial by 5.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after acquiring an additional 6,690 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RF. Stephens assumed coverage on Regions Financial in a report on Monday, June 15th. They set an “equal weight” rating and a $31.00 price objective for the company. Wells Fargo & Company lifted their target price on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a report on Friday, July 17th. JPMorgan Chase & Co. upped their target price on shares of Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Finally, Robert W. Baird restated an “underperform” rating and issued a $28.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Regions Financial has an average rating of “Hold” and an average price target of $32.24.

Regions Financial Stock Up 0.8%

RF stock opened at $31.91 on Friday. The stock has a fifty day moving average of $30.44 and a 200-day moving average of $28.70. Regions Financial Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company has a market capitalization of $27.18 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.21 and a beta of 1.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. As a group, equities research analysts predict that Regions Financial Corporation will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

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

Regions Financial Profile

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.