Key Points
- EVP William Ritter sold 36,000 shares on Jan. 22 at an average price of $28.78 for a total of $1,036,080, cutting his position by 67.2% to 17,569 shares, per an SEC filing.
- Regions missed quarterly expectations (EPS $0.57 vs. $0.61 estimate; revenue $1.92B vs. $1.94B) but its board approved a $3.0 billion share buyback (up to 12.9% of outstanding stock); analysts maintain a consensus "Hold" with an average target of $29.27.
Regions Financial Corporation (NYSE:RF - Get Free Report) EVP William Ritter sold 36,000 shares of the firm'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 directly owned 17,569 shares in the company, valued at approximately $505,635.82. The trade was a 67.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Regions Financial Price Performance
Shares of NYSE:RF opened at $27.76 on Tuesday. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $29.25. The firm has a market capitalization of $24.34 billion, a P/E ratio of 12.12, a P/E/G ratio of 0.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The company's fifty day moving average price is $27.06 and its 200 day moving average price is $26.13.
Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $1.94 billion. During the same period in the previous year, the business posted $0.56 EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.
Regions Financial declared that its board has initiated a share repurchase program on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to buy up to 12.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.
Analyst Ratings Changes
RF has been the subject of several research analyst reports. The Goldman Sachs Group reissued a "buy" rating and issued a $32.00 price objective on shares of Regions Financial in a report on Tuesday, January 6th. TD Cowen reiterated a "buy" rating on shares of Regions Financial in a research note on Tuesday, October 21st. Piper Sandler lifted their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the company a "neutral" rating in a research note on Tuesday, January 20th. Wall Street Zen cut shares of Regions Financial from a "hold" rating to a "sell" rating in a report on Saturday, December 13th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Regions Financial in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.27.
Get Our Latest Stock Analysis on RF
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of RF. Norges Bank purchased a new position in Regions Financial during the second quarter worth $246,790,000. Victory Capital Management Inc. increased its position in Regions Financial by 52.9% during the 3rd quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank's stock worth $357,417,000 after purchasing an additional 4,679,285 shares in the last quarter. Qube Research & Technologies Ltd increased its position in Regions Financial by 286.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank's stock worth $106,061,000 after purchasing an additional 2,980,505 shares in the last quarter. AQR Capital Management LLC raised its stake in Regions Financial by 151.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank's stock valued at $103,886,000 after purchasing an additional 2,371,048 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Regions Financial by 620.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank's stock valued at $60,293,000 after purchasing an additional 2,207,585 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.
Regions Financial Company Profile
(
Get Free Report)
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.
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