Insider Selling: Regions Financial Corp. EVP Unloads 59,096 Shares of Stock (RF)
Regions Financial Corp. (NYSE:RF) EVP William D. Ritter sold 59,096 shares of the stock on the open market in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $10.80, for a total transaction of $638,236.80. Following the transaction, the executive vice president now directly owns 160,236 shares of the company’s stock, valued at approximately $1,730,549. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Regions Financial Corp. (NYSE:RF) traded down 1.33% on Monday, hitting $10.41. 16,709,095 shares of the company’s stock traded hands. Regions Financial Corp. has a 52 week low of $7.42 and a 52 week high of $11.08. The stock has a 50-day moving average of $10.05 and a 200-day moving average of $9.78. The company has a market cap of $14.340 billion and a P/E ratio of 13.32.
Regions Financial Corp. (NYSE:RF) last announced its earnings results on Tuesday, January 21st. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.20 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Analysts expect that Regions Financial Corp. will post $0.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of 0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, March 12th.
A number of analysts have recently weighed in on RF shares. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Regions Financial Corp. in a research note to investors on Wednesday, January 22nd. They now have a $12.00 price target on the stock. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of Regions Financial Corp. in a research note to investors on Tuesday, January 14th. They set a “buy” rating on the stock. Finally, analysts at Deutsche Bank upgraded shares of Regions Financial Corp. from a “hold” rating to a “buy” rating in a research note to investors on Friday, January 3rd. They now have a $12.00 price target on the stock, up previously from $10.00. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Regions Financial Corp. currently has a consensus rating of “Buy” and a consensus target price of $10.21.
Regions Financial Corporation (NYSE:RF) is a financial holding company.
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