Regions Financial Co. (NYSE:RF - Get Free Report) EVP William D. Ritter sold 23,000 shares of the business's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the transaction, the executive vice president now directly owns 41,671 shares of the company's stock, valued at approximately $831,336.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Regions Financial Stock Down 0.9 %
Shares of RF opened at $19.65 on Wednesday. Regions Financial Co. has a 12-month low of $13.72 and a 12-month high of $21.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $18.06 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The business's 50 day moving average is $19.61 and its 200 day moving average is $18.29.
Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the business earned $0.62 EPS. The company's quarterly revenue was down 10.5% on a year-over-year basis. Research analysts expect that Regions Financial Co. will post 1.95 earnings per share for the current fiscal year.
Regions Financial Announces Dividend
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Monday, June 3rd. Regions Financial's dividend payout ratio (DPR) is presently 52.17%.
Institutional Investors Weigh In On Regions Financial
Several large investors have recently made changes to their positions in the company. Advisor Resource Council bought a new stake in Regions Financial in the 4th quarter worth approximately $1,944,000. Vestmark Advisory Solutions Inc. increased its position in Regions Financial by 126.3% in the third quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank's stock worth $455,000 after purchasing an additional 14,756 shares during the last quarter. abrdn plc raised its stake in Regions Financial by 17.0% during the fourth quarter. abrdn plc now owns 2,350,151 shares of the bank's stock valued at $45,546,000 after purchasing an additional 341,878 shares in the last quarter. LPL Financial LLC lifted its position in Regions Financial by 19.6% during the third quarter. LPL Financial LLC now owns 582,491 shares of the bank's stock valued at $10,019,000 after purchasing an additional 95,271 shares during the last quarter. Finally, Vaughan David Investments LLC IL grew its stake in shares of Regions Financial by 48.9% in the 4th quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank's stock worth $47,886,000 after buying an additional 811,174 shares in the last quarter. 79.39% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on RF. Royal Bank of Canada boosted their price objective on shares of Regions Financial from $19.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, January 22nd. StockNews.com cut Regions Financial from a "hold" rating to a "sell" rating in a report on Tuesday, February 6th. Piper Sandler lifted their price objective on Regions Financial from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday, April 26th. Stephens reissued an "equal weight" rating and issued a $21.00 target price on shares of Regions Financial in a report on Tuesday, January 23rd. Finally, Citigroup upgraded Regions Financial from a "neutral" rating to a "buy" rating and boosted their price target for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.34.
Read Our Latest Report on Regions Financial
Regions Financial Company Profile
(
Get Free Report)
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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