William D. Ritter Sells 23,000 Shares of Regions Financial Co. (NYSE:RF) Stock

Regions Financial Co. (NYSE:RF) EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares in the company, valued at $831,336.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Regions Financial Trading Up 0.5 %

RF opened at $19.74 on Thursday. The firm has a market capitalization of $18.14 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The company’s 50 day simple moving average is $19.63 and its two-hundred day simple moving average is $18.30. Regions Financial Co. has a 1-year low of $13.72 and a 1-year high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. Analysts expect that Regions Financial Co. will post 1.95 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Monday, June 3rd. Regions Financial’s payout ratio is currently 52.17%.

Institutional Trading of Regions Financial

Several hedge funds have recently made changes to their positions in RF. Laurel Wealth Advisors LLC increased its stake in Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after acquiring an additional 649 shares during the last quarter. MV Capital Management Inc. increased its position in shares of Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after purchasing an additional 618 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in Regions Financial in the 4th quarter valued at about $28,000. Sound Income Strategies LLC lifted its position in Regions Financial by 103.2% in the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after buying an additional 750 shares during the last quarter. Finally, Glassman Wealth Services boosted its stake in Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after buying an additional 967 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RF shares. StockNews.com downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Argus downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Morgan Stanley reduced their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Stephens restated an “equal weight” rating and set a $21.00 price objective on shares of Regions Financial in a research note on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.34.

About Regions Financial

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.