Regions Financial Corporation (NYSE:RF) EVP Scott M. Peters sold 13,689 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $14.61, for a total transaction of $199,996.29. Following the completion of the transaction, the executive vice president now directly owns 147,528 shares of the company’s stock, valued at $2,155,384.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Regions Financial Corporation (RF) opened at 14.86 on Wednesday. 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 is $14.48 and its 200 day moving average is $14.45. Regions Financial Corporation has a 1-year low of $9.14 and a 1-year high of $16.03.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. Regions Financial Corporation’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Equities research analysts anticipate 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. Investors of record on Friday, September 8th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, September 7th. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s payout ratio is 29.47%.
Regions Financial Corporation declared that its board has approved a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $1.47 billion in shares. This repurchase authorization authorizes the bank to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of research analysts have recently weighed in on the stock. Deutsche Bank AG reissued a “hold” rating on shares of Regions Financial Corporation in a research note on Monday, July 3rd. BidaskClub raised shares of Regions Financial Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Instinet reissued a “neutral” rating and set a $16.00 price objective on shares of Regions Financial Corporation in a research note on Wednesday, July 12th. Bank of America Corporation reissued a “buy” rating and set a $17.00 price objective on shares of Regions Financial Corporation in a research note on Wednesday, July 26th. Finally, Vining Sparks raised shares of Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $14.13.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Partners Fund LP bought a new position in Regions Financial Corporation during the first quarter worth approximately $103,000. Bronfman E.L. Rothschild L.P. increased its position 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 acquired a new position in shares of Regions Financial Corporation during the second quarter valued at approximately $108,000. Benjamin F. Edwards & Company Inc. increased its position 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. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of Regions Financial Corporation during the first quarter valued at approximately $146,000. 75.40% of the stock is owned by institutional investors and hedge funds.
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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