William E. Horton Sells 12,000 Shares of Regions Financial Corp. (RF) Stock
Regions Financial Corp. (NYSE:RF) EVP William E. Horton sold 12,000 shares of Regions Financial Corp. stock in a transaction on Monday, November 21st. The shares were sold at an average price of $13.17, for a total value of $158,040.00. Following the completion of the transaction, the executive vice president now directly owns 19,434 shares of the company’s stock, valued at $255,945.78. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Regions Financial Corp. (NYSE:RF) opened at 13.30 on Thursday. Regions Financial Corp. has a 52 week low of $7.00 and a 52 week high of $13.54. The stock has a 50 day moving average price of $11.22 and a 200 day moving average price of $9.83. The stock has a market capitalization of $16.37 billion, a P/E ratio of 15.63 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.38 billion. Regions Financial Corp. had a return on equity of 7.03% and a net margin of 19.43%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, equities research 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. Stockholders of record on Friday, December 9th will be issued a $0.065 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $0.26 annualized dividend and a dividend yield of 1.95%. Regions Financial Corp.’s dividend payout ratio is currently 30.59%.
RF has been the subject of a number of research analyst reports. Piper Jaffray Cos. cut Regions Financial Corp. from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 16th. FBR & Co raised Regions Financial Corp. from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $10.50 to $15.00 in a report on Monday, November 14th. Sandler O’Neill cut Regions Financial Corp. from a “buy” rating to a “hold” rating and set a $11.50 price target for the company. in a report on Tuesday, November 8th. Barclays PLC reissued a “sell” rating and set a $10.00 price target on shares of Regions Financial Corp. in a report on Tuesday, October 11th. Finally, Wedbush initiated coverage on Regions Financial Corp. in a report on Thursday, October 6th. They set an “outperform” rating and a $12.00 price target for the company. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Regions Financial Corp. has an average rating of “Hold” and a consensus target price of $10.44.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AJO LP increased its position in 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in 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 last quarter. The Manufacturers Life Insurance Company acquired a new stake in Regions Financial Corp. during the third quarter valued at about $54,184,000. Bank of Montreal Can acquired a new stake in Regions Financial Corp. during the second quarter valued at about $44,648,000. Finally, Basswood Capital Management L.L.C. boosted its stake in 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 last quarter. Hedge funds and other institutional investors own 74.72% of the company’s stock.
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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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