Insider Selling: Regions Financial Corp Director Sells 20,000 Shares of Stock (RF)
Regions Financial Corp (NYSE:RF) Director James R. Malone unloaded 20,000 shares of the stock on the open market in a transaction dated Thursday, July 24th. The stock was sold at an average price of $10.23, for a total transaction of $204,600.00. Following the completion of the sale, the director now directly owns 57,457 shares of the company’s stock, valued at approximately $587,785. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Regions Financial Corp (NYSE:RF) traded down 1.16% on Monday, hitting $10.24. 10,140,786 shares of the company’s stock traded hands. Regions Financial Corp has a 1-year low of $8.84 and a 1-year high of $11.54. The stock’s 50-day moving average is $10.58 and its 200-day moving average is $10.49. The company has a market cap of $14.111 billion and a P/E ratio of 13.13.
Regions Financial Corp (NYSE:RF) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.21 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.21. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts expect that Regions Financial Corp will post $0.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, September 10th.
RF has been the subject of a number of recent research reports. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Regions Financial Corp in a research note on Wednesday, July 23rd. They now have a $12.00 price target on the stock, down previously from $12.50. Separately, analysts at Bernstein raised their price target on shares of Regions Financial Corp from $10.00 to $10.50 in a research note on Wednesday, July 23rd. Finally, analysts at Janney Montgomery Scott reiterated a “fair value” rating on shares of Regions Financial Corp in a research note on Wednesday, July 23rd. They now have a $13.00 price target on the stock, up previously from $12.00. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.17.
Regions Financial Corporation (NYSE:RF) is a financial holding company.
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