Toronto Dominion Bank lifted its position in shares of Regions Financial Corporation (NYSE:RF) by 11.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 453,618 shares of the bank’s stock after purchasing an additional 45,462 shares during the quarter. Toronto Dominion Bank’s holdings in Regions Financial Corporation were worth $6,908,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RF. OMERS ADMINISTRATION Corp purchased a new position in Regions Financial Corporation during the second quarter valued at $1,259,000. Koch Industries Inc. purchased a new position in Regions Financial Corporation during the second quarter valued at $614,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Regions Financial Corporation by 17.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 295,359 shares of the bank’s stock valued at $4,324,000 after buying an additional 44,909 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Regions Financial Corporation by 35.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 432,686 shares of the bank’s stock valued at $6,335,000 after buying an additional 113,610 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in Regions Financial Corporation by 4.8% during the second quarter. Synovus Financial Corp now owns 155,071 shares of the bank’s stock valued at $2,272,000 after buying an additional 7,078 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.
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In other Regions Financial Corporation news, EVP John B. Owen sold 40,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total transaction of $626,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott M. Peters sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $15.84, for a total value of $396,000.00. Following the sale, the executive vice president now directly owns 121,459 shares of the company’s stock, valued at approximately $1,923,910.56. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Regions Financial Corporation (NYSE:RF) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Regions Financial Corporation had a return on equity of 7.56% and a net margin of 20.14%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. Regions Financial Corporation’s revenue for the quarter was down 1.3% on a year-over-year basis. equities research analysts expect that Regions Financial Corporation will post 0.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, December 7th. Regions Financial Corporation’s dividend payout ratio is presently 37.89%.
A number of brokerages have issued reports on RF. Jefferies Group LLC reiterated a “hold” rating and set a $16.00 price objective on shares of Regions Financial Corporation in a research note on Friday, August 11th. Piper Jaffray Companies reiterated a “hold” rating and set a $14.50 price objective on shares of Regions Financial Corporation in a research note on Thursday, August 17th. Wells Fargo & Company began coverage on Regions Financial Corporation in a research note on Wednesday, August 9th. They set a “market perform” rating and a $16.00 price objective for the company. BidaskClub cut Regions Financial Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.50 price objective on shares of Regions Financial Corporation in a research note on Wednesday, August 16th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $15.31.
About Regions Financial Corporation
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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