Traders Sell Shares of Regions Financial Corp. (RF) on Strength on Insider Selling
Traders sold shares of Regions Financial Corp. (NYSE:RF) on strength during trading on Friday after an insider sold shares in the company. $81.94 million flowed into the stock on the tick-up and $198.13 million flowed out of the stock on the tick-down, for a money net flow of $116.19 million out of the stock. Of all companies tracked, Regions Financial Corp. had the 4th highest net out-flow for the day. Regions Financial Corp. traded up $0.28 for the day and closed at $13.17Specifically, EVP William E. Horton sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $12.99, for a total transaction of $649,500.00. Following the completion of the sale, the executive vice president now owns 81,434 shares of the company’s stock, valued at approximately $1,057,827.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott M. Peters sold 23,391 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $9.73, for a total transaction of $227,594.43. Following the sale, the executive vice president now directly owns 201,391 shares of the company’s stock, valued at approximately $1,959,534.43. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
RF has been the subject of a number of recent research reports. Wedbush initiated coverage on Regions Financial Corp. in a research note on Thursday, October 6th. They set an “outperform” rating and a $12.00 price objective for the company. They noted that the move was a valuation call. FBR & Co downgraded Regions Financial Corp. from an “outperform” rating to a “market perform” rating and set a $10.50 price objective for the company. in a research note on Tuesday, October 11th. Evercore ISI reiterated a “buy” rating and set a $10.00 price objective (up from $9.00) on shares of Regions Financial Corp. in a research note on Friday, July 22nd. Credit Suisse Group AG set a $9.50 price objective on Regions Financial Corp. and gave the company a “hold” rating in a research note on Wednesday, September 14th. Finally, Keefe, Bruyette & Woods upgraded Regions Financial Corp. from an “underperform” rating to a “market perform” rating and set a $10.50 price objective for the company in a research note on Thursday, August 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $10.49.
The firm’s 50 day moving average price is $10.86 and its 200 day moving average price is $9.71. The company has a market cap of $16.39 billion, a P/E ratio of 15.58 and a beta of 1.35.
Regions Financial Corp. (NYSE:RF) last released its quarterly earnings data on Tuesday, October 18th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.38 billion. Regions Financial Corp. had a return on equity of 7.03% and a net margin of 19.43%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. On average, analysts expect that Regions Financial Corp. will post $0.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Wednesday, December 7th. Regions Financial Corp.’s dividend payout ratio (DPR) is currently 30.59%.
A number of institutional investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System raised its position in Regions Financial Corp. by 7.3% in the second quarter. New York State Teachers Retirement System now owns 2,871,651 shares of the company’s stock worth $24,438,000 after buying an additional 194,415 shares during the period. Standard Life Investments LTD raised its position in Regions Financial Corp. by 0.8% in the second quarter. Standard Life Investments LTD now owns 7,954,522 shares of the company’s stock worth $67,653,000 after buying an additional 66,345 shares during the period. Endeavour Capital Advisors Inc. raised its position in Regions Financial Corp. by 29.9% in the first quarter. Endeavour Capital Advisors Inc. now owns 4,751,677 shares of the company’s stock worth $37,301,000 after buying an additional 1,093,531 shares during the period. National Pension Service raised its position in Regions Financial Corp. by 4.6% in the first quarter. National Pension Service now owns 890,061 shares of the company’s stock worth $6,987,000 after buying an additional 39,472 shares during the period. Finally, Paradigm Financial Advisors LLC bought a new position in Regions Financial Corp. during the second quarter worth $119,000. 75.22% of the stock is currently owned by institutional investors.
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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