Traders Buy Shares of Regions Financial Corporation (RF) on Weakness
Traders purchased shares of Regions Financial Corporation (NYSE:RF) on weakness during trading hours on Friday. $61.26 million flowed into the stock on the tick-up and $24.97 million flowed out of the stock on the tick-down, for a money net flow of $36.29 million into the stock. Of all companies tracked, Regions Financial Corporation had the 7th highest net in-flow for the day. Regions Financial Corporation traded down ($0.23) for the day and closed at $14.07
RF has been the topic of a number of research reports. UBS AG restated a “sell” rating and issued a $13.00 price target (down from $14.00) on shares of Regions Financial Corporation in a report on Saturday, April 22nd. BidaskClub upgraded Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Wells Fargo & Company initiated coverage on Regions Financial Corporation in a report on Wednesday. They issued a “market perform” rating and a $16.00 price target on the stock. Vining Sparks upgraded Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $15.00 price target on shares of Regions Financial Corporation in a report on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.21.
The firm has a 50-day moving average price of $14.53 and a 200 day moving average price of $14.47. The firm has a market cap of $16.81 billion, a PE ratio of 14.70 and a beta of 1.31.
Regions Financial Corporation (NYSE:RF) last posted its earnings results on Friday, July 21st. The bank reported $0.25 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 analysts’ expectations of $1.43 billion. During the same quarter last year, the firm earned $0.20 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts forecast that Regions Financial Corporation will post $1.00 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.56%. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s dividend payout ratio (DPR) is presently 29.47%.
Regions Financial Corporation announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in shares. This buyback authorization authorizes the bank to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, CFO David J. Turner, Jr. sold 65,000 shares of the firm’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 transaction of $971,750.00. Following the completion of the sale, the chief financial officer now owns 121,160 shares in the company, valued at approximately $1,811,342. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Fournier J. Gale III sold 35,825 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $14.59, for a total transaction of $522,686.75. Following the sale, the executive vice president now owns 109,318 shares of the company’s stock, valued at approximately $1,594,949.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,514 shares of company stock valued at $1,846,733. 0.52% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. FNY Partners Fund LP bought a new stake in shares of Regions Financial Corporation during the first quarter valued at about $103,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of Regions Financial Corporation by 10.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock valued at $104,000 after buying an additional 666 shares during the last quarter. Lloyds Banking Group plc bought a new stake in shares of Regions Financial Corporation during the second quarter valued at about $108,000. Seven Eight Capital LP bought a new stake in shares of Regions Financial Corporation during the second quarter valued at about $111,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Regions Financial Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock valued at $126,000 after buying an additional 28 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.
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About Regions Financial Corporation
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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