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

Toronto Dominion Bank raised its holdings in Regions Financial Co. (NYSE:RF - Free Report) by 69.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 452,254 shares of the bank's stock after buying an additional 185,520 shares during the period. Toronto Dominion Bank's holdings in Regions Financial were worth $10,551,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. American National Bank & Trust raised its holdings in shares of Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock valued at $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP increased its stake in Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank's stock valued at $27,000 after buying an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock worth $30,000 after buying an additional 1,256 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Regions Financial in the third quarter valued at approximately $37,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Regions Financial in the third quarter valued at approximately $37,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.2 %

Shares of RF traded up $0.06 on Friday, hitting $25.11. 7,466,738 shares of the stock traded hands, compared to its average volume of 7,879,551. Regions Financial Co. has a one year low of $17.42 and a one year high of $27.96. The company has a market capitalization of $22.82 billion, a PE ratio of 14.19, a P/E/G ratio of 2.64 and a beta of 1.19. The business has a 50 day simple moving average of $25.11 and a 200 day simple moving average of $22.51. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.98%. Regions Financial's dividend payout ratio is presently 56.50%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of Regions Financial from $22.00 to $25.00 and gave the company an "underweight" rating in a research note on Monday, October 21st. The Goldman Sachs Group increased their price objective on Regions Financial from $29.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Compass Point upped their price target on Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday. DA Davidson lifted their price objective on Regions Financial from $27.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Finally, Evercore ISI upped their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the company an "in-line" rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of "Moderate Buy" and an average target price of $27.61.

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.