Regions Financial Corporation (NYSE:RF) Director Susan W. Matlock Sells 10,000 Shares
Regions Financial Corporation (NYSE:RF) Director Susan W. Matlock sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $15.23, for a total value of $152,300.00. Following the transaction, the director now directly owns 32,188 shares in the company, valued at $490,223.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Regions Financial Corporation (NYSE RF) traded down 0.07% on Tuesday, reaching $14.86. The company had a trading volume of 16,854,224 shares. Regions Financial Corporation has a 12 month low of $9.14 and a 12 month high of $16.03. The firm has a market capitalization of $17.82 billion, a PE 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 (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. 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 was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. Equities analysts forecast that Regions Financial Corporation will post $1.00 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend 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 dividend payout ratio (DPR) is 29.47%.
Regions Financial Corporation declared that its board has approved 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 reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several equities analysts recently commented on the company. UBS AG reissued a “sell” rating and set a $13.00 price target (down from $14.00) on shares of Regions Financial Corporation in a research report on Saturday, April 22nd. BidaskClub raised Regions Financial Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Vining Sparks raised Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 26th. Bank of America Corporation reaffirmed a “buy” rating and issued a $17.00 target price on shares of Regions Financial Corporation in a research report on Wednesday, July 26th. Finally, Instinet reaffirmed a “neutral” rating and issued a $16.00 target price on shares of Regions Financial Corporation in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Regions Financial Corporation has a consensus rating of “Hold” and a consensus target price of $14.13.
Institutional investors have recently bought and sold shares of the company. FNY Partners Fund LP bought a new position in Regions Financial Corporation during the first quarter valued at approximately $103,000. Bronfman E.L. Rothschild L.P. increased its position in 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 period. Lloyds Banking Group plc bought a new position in Regions Financial Corporation during the second quarter valued at approximately $108,000. Benjamin F. Edwards & Company Inc. increased its position in 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 period. Finally, Cornerstone Wealth Management LLC bought a new position in Regions Financial Corporation during the first quarter valued at approximately $146,000. Institutional investors and hedge funds own 75.40% of the company’s stock.
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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