Insider Selling: Regions Financial Corporation (NYSE:RF) CFO Sells 65,000 Shares of Stock
Regions Financial Corporation (NYSE:RF) CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $14.95, for a total value of $971,750.00. Following the completion of the transaction, the chief financial officer now owns 121,160 shares in the company, valued at $1,811,342. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Regions Financial Corporation (RF) traded down 0.07% during trading on Tuesday, hitting $14.86. 16,851,693 shares of the company were exchanged. The stock has a market cap of $17.82 billion, a P/E ratio of 15.53 and a beta of 1.31. The company’s 50-day moving average price is $14.48 and its 200 day moving average price is $14.45. Regions Financial Corporation has a 12 month low of $9.14 and a 12 month high of $16.03.
Regions Financial Corporation (NYSE:RF) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts predict that Regions Financial Corporation will post $1.00 earnings per share for the current fiscal year.
Regions Financial Corporation announced that its board has initiated a stock buyback program on Wednesday, June 28th that permits the company to buyback $1.47 billion in outstanding shares. This buyback authorization permits the bank to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.09 per share. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.36 annualized dividend and a yield of 2.42%. Regions Financial Corporation’s payout ratio is 29.47%.
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A number of large investors have recently added to or reduced their stakes in RF. Greenwood Capital Associates LLC increased its stake in Regions Financial Corporation by 6.6% in the second quarter. Greenwood Capital Associates LLC now owns 27,329 shares of the bank’s stock valued at $400,000 after buying an additional 1,699 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in Regions Financial Corporation during the second quarter valued at about $1,259,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Regions Financial Corporation 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 buying an additional 113,610 shares during the period. Pacer Advisors Inc. increased its stake in Regions Financial Corporation by 8.3% in the second quarter. Pacer Advisors Inc. now owns 25,243 shares of the bank’s stock valued at $370,000 after buying an additional 1,939 shares during the period. Finally, Lbmc Investment Advisors LLC increased its stake in Regions Financial Corporation by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 31,904 shares of the bank’s stock valued at $467,000 after buying an additional 109 shares during the period. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on RF shares. Rafferty Capital Markets cut Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Thursday, April 20th. Bank of America Corporation raised Regions Financial Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $15.00 to $17.00 in a research report on Thursday, May 4th. Royal Bank Of Canada reissued a “hold” rating and issued a $15.00 target price on shares of Regions Financial Corporation in a research report on Friday, June 23rd. Argus lowered Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Monday, May 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $14.13.
Regions Financial Corporation 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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