Regions Financial Corporation (RF) CFO Sells $971,750.00 in Stock
Regions Financial Corporation (NYSE:RF) CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $14.95, for a total value of $971,750.00. Following the sale, the chief financial officer now owns 121,160 shares of the company’s stock, valued at approximately $1,811,342. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Regions Financial Corporation (NYSE RF) traded down 0.07% during trading on Tuesday, reaching $14.86. The company had a trading volume of 16,851,693 shares. The company has a market capitalization of $17.82 billion, a PE ratio of 15.53 and a beta of 1.31. Regions Financial Corporation has a 52 week low of $9.14 and a 52 week high of $16.03. The stock’s 50-day moving average price is $14.48 and its 200-day moving average price is $14.45.
Regions Financial Corporation (NYSE:RF) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $0.20 EPS. Regions Financial Corporation’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts expect that Regions Financial Corporation will post $1.00 EPS for the current fiscal year.
Regions Financial Corporation announced that its board has initiated a stock buyback program on Wednesday, June 28th that permits the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.42%. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s payout ratio is presently 29.47%.
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A number of large investors have recently bought and sold shares of RF. JPMorgan Chase & Co. boosted its stake in Regions Financial Corporation by 12.3% in the first quarter. JPMorgan Chase & Co. now owns 27,243,518 shares of the bank’s stock valued at $395,848,000 after buying an additional 2,985,752 shares during the last quarter. Toronto Dominion Bank boosted its stake in Regions Financial Corporation by 53.9% in the first quarter. Toronto Dominion Bank now owns 326,968 shares of the bank’s stock valued at $4,750,000 after buying an additional 114,483 shares during the last quarter. Trexquant Investment LP boosted its stake in Regions Financial Corporation by 26.4% in the first quarter. Trexquant Investment LP now owns 161,400 shares of the bank’s stock valued at $2,345,000 after buying an additional 33,700 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Regions Financial Corporation by 48.6% in the fourth quarter. Macquarie Group Ltd. now owns 44,400 shares of the bank’s stock valued at $638,000 after buying an additional 14,525 shares during the last quarter. Finally, Elkfork Partners LLC boosted its stake in Regions Financial Corporation by 96.9% in the first quarter. Elkfork Partners LLC now owns 809,160 shares of the bank’s stock valued at $11,757,000 after buying an additional 398,112 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.
Several research firms have issued reports on RF. Instinet boosted their price target on Regions Financial Corporation from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, June 30th. Royal Bank Of Canada reissued a “hold” rating and set a $15.00 price target on shares of Regions Financial Corporation in a report on Thursday, May 18th. UBS AG reissued a “sell” rating and set a $13.00 price target (down previously from $14.00) on shares of Regions Financial Corporation in a report on Saturday, April 22nd. FBR & Co set a $18.00 price target on Regions Financial Corporation and gave the company a “buy” rating in a report on Wednesday, April 19th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $14.13.
About Regions Financial Corporation
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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