TD Asset Management Inc. cut its stake in shares of Regions Financial Corporation (NYSE:RF) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 368,919 shares of the bank’s stock after selling 23,908 shares during the period. TD Asset Management Inc.’s holdings in Regions Financial were worth $5,619,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp purchased a new position in shares of Regions Financial in the second quarter valued at approximately $1,259,000. Koch Industries Inc. purchased a new position in shares of Regions Financial in the second quarter valued at approximately $614,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Regions Financial by 17.9% in 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 purchasing an additional 44,909 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Regions Financial by 35.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 432,686 shares of the bank’s stock valued at $6,335,000 after purchasing an additional 113,610 shares during the period. Finally, Synovus Financial Corp boosted its stake in shares of Regions Financial by 4.8% in the second quarter. Synovus Financial Corp now owns 155,071 shares of the bank’s stock valued at $2,272,000 after purchasing an additional 7,078 shares during the period. Institutional investors and hedge funds own 75.70% of the company’s stock.
Several research analysts have recently commented on the stock. SunTrust Banks reissued a “buy” rating and issued a $19.00 price objective on shares of Regions Financial in a research note on Wednesday, November 29th. Goldman Sachs Group raised shares of Regions Financial from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, November 16th. J P Morgan Chase & Co lifted their price target on shares of Regions Financial from $15.50 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 1st. Nomura reiterated a “neutral” rating and issued a $17.00 price target (up previously from $16.00) on shares of Regions Financial in a research note on Thursday, October 26th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $16.00 price target on shares of Regions Financial in a research note on Wednesday, October 25th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.63.
Shares of Regions Financial Corporation (NYSE:RF) traded down $0.08 during trading hours on Wednesday, hitting $16.87. 11,925,100 shares of the stock traded hands, compared to its average volume of 15,162,780. The stock has a market cap of $19,661.51, a P/E ratio of 17.66, a PEG ratio of 1.53 and a beta of 1.30. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.39. Regions Financial Corporation has a twelve month low of $13.00 and a twelve month high of $17.17.
Regions Financial (NYSE:RF) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a net margin of 20.14% and a return on equity of 7.56%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. equities research analysts expect that Regions Financial Corporation will post 0.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.13%. Regions Financial’s dividend payout ratio is presently 37.50%.
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About Regions Financial
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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