Toronto Dominion Bank Grows Position in Regions Financial Co. (NYSE:RF)

Toronto Dominion Bank boosted its stake in Regions Financial Co. (NYSE:RF - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 487,152 shares of the bank's stock after purchasing an additional 34,898 shares during the quarter. Toronto Dominion Bank owned about 0.05% of Regions Financial worth $11,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock valued at $686,398,000 after acquiring an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC grew its position in Regions Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank's stock valued at $540,284,000 after acquiring an additional 403,283 shares during the last quarter. First Trust Advisors LP grew its position in Regions Financial by 7.7% in the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank's stock valued at $401,097,000 after acquiring an additional 1,224,645 shares during the last quarter. Invesco Ltd. grew its position in Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock valued at $363,823,000 after acquiring an additional 1,963,954 shares during the last quarter. Finally, Norges Bank bought a new position in Regions Financial in the fourth quarter valued at about $279,103,000. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Trading Down 0.5%

RF stock traded down $0.12 during trading on Friday, hitting $21.26. The company had a trading volume of 5,621,293 shares, compared to its average volume of 8,123,674. The business has a 50-day moving average of $20.74 and a 200-day moving average of $23.15. Regions Financial Co. has a one year low of $17.72 and a one year high of $27.96. The stock has a market cap of $19.11 billion, a PE ratio of 10.96, a PEG ratio of 1.93 and a beta of 0.97. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same period in the prior year, the business earned $0.37 EPS. Research analysts predict that Regions Financial Co. will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's payout ratio is 48.08%.

Insiders Place Their Bets

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, the director now owns 17,486 shares of the company's stock, valued at approximately $370,353.48. This represents a 15.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RF. TD Cowen began coverage on Regions Financial in a research report on Thursday, May 15th. They issued a "buy" rating and a $31.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Citigroup decreased their target price on Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Truist Financial reduced their price target on Regions Financial from $24.00 to $21.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Finally, Cowen started coverage on Regions Financial in a report on Wednesday, May 14th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $25.80.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.