William E. Horton Sells 50,000 Shares of Regions Financial Corp. (RF) Stock
Regions Financial Corp. (NYSE:RF) EVP William E. Horton sold 50,000 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $12.99, for a total transaction of $649,500.00. Following the transaction, the executive vice president now directly owns 81,434 shares in the company, valued at approximately $1,057,827.66. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of Regions Financial Corp. (NYSE:RF) opened at 13.11 on Tuesday. Regions Financial Corp. has a 1-year low of $7.00 and a 1-year high of $13.54. The company’s 50-day moving average is $11.05 and its 200 day moving average is $9.78. The company has a market cap of $16.14 billion, a price-to-earnings ratio of 15.41 and a beta of 1.35.
Regions Financial Corp. (NYSE:RF) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. The company earned $1.46 billion during the quarter, compared to analyst estimates of $1.38 billion. Regions Financial Corp. had a net margin of 19.43% and a return on equity of 7.03%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. Equities analysts anticipate that Regions Financial Corp. will post $0.87 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 1.98%. The ex-dividend date is Wednesday, December 7th. Regions Financial Corp.’s payout ratio is presently 30.59%.
Large investors have recently modified their holdings of the company. AJO LP raised its stake in shares of Regions Financial Corp. by 665.8% in the second quarter. AJO LP now owns 12,532,352 shares of the company’s stock valued at $106,650,000 after buying an additional 10,895,919 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Regions Financial Corp. by 46.6% in the third quarter. JPMorgan Chase & Co. now owns 27,096,781 shares of the company’s stock valued at $267,446,000 after buying an additional 8,617,323 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Regions Financial Corp. during the third quarter valued at about $54,184,000. Bank of Montreal Can acquired a new stake in shares of Regions Financial Corp. during the second quarter valued at about $44,648,000. Finally, Basswood Capital Management L.L.C. boosted its stake in shares of Regions Financial Corp. by 70.7% in the second quarter. Basswood Capital Management L.L.C. now owns 11,942,752 shares of the company’s stock valued at $101,633,000 after buying an additional 4,944,933 shares during the period. 74.72% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on RF shares. TheStreet raised shares of Regions Financial Corp. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Sandler O’Neill lowered shares of Regions Financial Corp. from a “buy” rating to a “hold” rating and set a $11.50 target price on the stock. in a report on Tuesday, November 8th. Credit Suisse Group AG set a $9.50 target price on shares of Regions Financial Corp. and gave the stock a “hold” rating in a report on Wednesday, September 14th. Keefe, Bruyette & Woods upgraded shares of Regions Financial Corp. from an “underperform” rating to a “market perform” rating and set a $10.50 target price on the stock in a report on Thursday, August 25th. Finally, Sanford C. Bernstein lowered shares of Regions Financial Corp. from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $9.56 to $9.50 in a report on Tuesday, August 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $10.44.
Regions Financial Corp. 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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