Toronto Dominion Bank raised its position in Regions Financial Corp (NYSE:RF) by 10.6% during the fourth quarter, Holdings Channel reports. The firm owned 501,735 shares of the bank’s stock after buying an additional 48,117 shares during the quarter. Toronto Dominion Bank’s holdings in Regions Financial were worth $8,669,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. First Trust Advisors LP increased its position in shares of Regions Financial by 13.1% in the 4th quarter. First Trust Advisors LP now owns 4,043,563 shares of the bank’s stock valued at $69,873,000 after purchasing an additional 466,813 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of Regions Financial by 23.7% in the 4th quarter. Retirement Systems of Alabama now owns 2,773,436 shares of the bank’s stock valued at $47,925,000 after buying an additional 531,135 shares during the last quarter. Pinnacle Financial Partners Inc. grew its position in shares of Regions Financial by 54.3% in the 4th quarter. Pinnacle Financial Partners Inc. now owns 136,880 shares of the bank’s stock valued at $2,365,000 after buying an additional 48,184 shares during the last quarter. New Mexico Educational Retirement Board grew its position in shares of Regions Financial by 2.9% in the 4th quarter. New Mexico Educational Retirement Board now owns 114,913 shares of the bank’s stock valued at $1,986,000 after buying an additional 3,200 shares during the last quarter. Finally, Sentry Investment Management LLC grew its position in shares of Regions Financial by 14.7% in the 4th quarter. Sentry Investment Management LLC now owns 60,955 shares of the bank’s stock valued at $1,053,000 after buying an additional 7,789 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.
Shares of Regions Financial Corp (NYSE RF) opened at $19.45 on Friday. Regions Financial Corp has a 52 week low of $13.00 and a 52 week high of $19.90. The company has a market cap of $22,056.30, a price-to-earnings ratio of 19.45, a PEG ratio of 1.45 and a beta of 1.32. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.53.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, March 8th. Regions Financial’s dividend payout ratio (DPR) is presently 36.00%.
RF has been the topic of a number of recent analyst reports. FBR & Co reaffirmed a “hold” rating and issued a $16.00 target price on shares of Regions Financial in a research report on Wednesday, October 25th. Barclays increased their target price on shares of Regions Financial from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Robert W. Baird reaffirmed a “sell” rating and issued a $17.00 target price on shares of Regions Financial in a research report on Wednesday, January 3rd. Wedbush raised shares of Regions Financial from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Thursday, December 21st. Finally, Goldman Sachs Group raised shares of Regions Financial from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, November 16th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $17.24.
In other news, EVP Scott M. Peters sold 25,627 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $19.50, for a total value of $499,726.50. Following the completion of the sale, the executive vice president now owns 240,796 shares in the company, valued at approximately $4,695,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John E. D. D S. Maupin, Jr. sold 15,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total transaction of $255,600.00. Following the completion of the sale, the director now owns 59,436 shares of the company’s stock, valued at approximately $1,012,789.44. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
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Regions Financial Company Profile
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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