William Ritter Sells 36,000 Shares of Regions Financial (NYSE:RF) Stock

Regions Financial Corporation (NYSE:RF) EVP William Ritter sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the sale, the executive vice president owned 17,569 shares in the company, valued at $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Regions Financial Trading Up 0.5%

Shares of NYSE:RF opened at $27.87 on Wednesday. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $29.25. The company’s 50 day moving average is $27.13 and its two-hundred day moving average is $26.15. The company has a market cap of $24.44 billion, a PE ratio of 12.17, a P/E/G ratio of 0.98 and a beta of 1.03. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 10th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $31.00 price objective on shares of Regions Financial in a research report on Tuesday, January 20th. Morgan Stanley set a $31.00 price target on shares of Regions Financial in a research report on Monday, January 19th. TD Cowen reaffirmed a “buy” rating on shares of Regions Financial in a report on Tuesday, October 21st. Barclays boosted their target price on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Finally, Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $29.27.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. American National Bank & Trust raised its position in Regions Financial by 2,433.3% during the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after buying an additional 1,022 shares during the last quarter. CVA Family Office LLC raised its holdings in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after purchasing an additional 656 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Regions Financial in the second quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new stake in shares of Regions Financial in the second quarter valued at approximately $30,000. Finally, United Community Bank purchased a new stake in shares of Regions Financial during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.