Investors Purchase Large Volume of Regions Financial Corp Call Options (RF)
Regions Financial Corp (NYSE:RF) was the recipient of unusually large options trading on Monday. Traders acquired 40,945 call options on the stock. This represents an increase of 1,129% compared to the typical volume of 3,331 call options.
In related news, EVP C. Keith Herron sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $14.30, for a total value of $429,000.00. Following the completion of the sale, the executive vice president now directly owns 204,537 shares in the company, valued at approximately $2,924,879.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David J. Turner, Jr. sold 45,535 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $13.82, for a total value of $629,293.70. Following the completion of the sale, the chief financial officer now owns 126,160 shares of the company’s stock, valued at $1,743,531.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 396,176 shares of company stock valued at $5,418,986. Corporate insiders own 0.88% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Regions Financial Corp by 3,130.8% in the first quarter. BlackRock Inc. now owns 92,466,983 shares of the bank’s stock valued at $1,343,545,000 after buying an additional 89,604,919 shares during the last quarter. Norges Bank bought a new position in shares of Regions Financial Corp during the fourth quarter valued at approximately $136,750,000. Janus Capital Management LLC increased its position in shares of Regions Financial Corp by 733.1% in the first quarter. Janus Capital Management LLC now owns 10,068,523 shares of the bank’s stock valued at $146,296,000 after buying an additional 8,859,912 shares during the last quarter. Appaloosa LP bought a new position in shares of Regions Financial Corp during the fourth quarter valued at approximately $105,404,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Regions Financial Corp during the third quarter valued at approximately $54,184,000. Institutional investors and hedge funds own 74.09% of the company’s stock.
Several equities research analysts recently weighed in on RF shares. Goldman Sachs Group Inc reduced their target price on Regions Financial Corp to $17.00 and set a “buy” rating for the company in a report on Thursday, March 30th. FBR & Co raised Regions Financial Corp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Regions Financial Corp in a research report on Tuesday, March 7th. Argus downgraded Regions Financial Corp from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research report on Monday, May 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $16.00 price target on shares of Regions Financial Corp in a research report on Wednesday, April 5th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Regions Financial Corp currently has an average rating of “Hold” and a consensus price target of $13.87.
Shares of Regions Financial Corp (NYSE:RF) traded down 0.14% during trading on Monday, hitting $14.07. The stock had a trading volume of 12,038,216 shares. Regions Financial Corp has a one year low of $7.80 and a one year high of $16.03. The stock has a 50 day moving average price of $14.07 and a 200-day moving average price of $14.15. The stock has a market capitalization of $16.91 billion, a price-to-earnings ratio of 15.46 and a beta of 1.37.
Regions Financial Corp (NYSE:RF) last issued its quarterly earnings data on Tuesday, April 18th. The bank reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Regions Financial Corp had a return on equity of 7.09% and a net margin of 19.49%. Regions Financial Corp’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. On average, equities research analysts predict that Regions Financial Corp will post $0.98 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, June 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.99%. This is a positive change from Regions Financial Corp’s previous quarterly dividend of $0.07. Regions Financial Corp’s payout ratio is currently 29.89%.
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About Regions Financial Corp
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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