Regions Financial (NYSE:RF) EVP William Ritter Sells 36,000 Shares of Stock

Regions Financial Corporation (NYSE:RF) EVP William Ritter sold 36,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the transaction, the executive vice president directly owned 17,569 shares of the company’s stock, valued at $505,635.82. The trade was a 67.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $27.76 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $29.25. The firm has a market capitalization of $24.34 billion, a PE ratio of 12.12, a P/E/G ratio of 0.98 and a beta of 1.03. The business’s 50 day moving average price is $27.06 and its 200-day moving average price is $26.13.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial declared that its board has authorized a stock buyback program on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Regions Financial

Several institutional investors have recently bought and sold shares of RF. Empowered Funds LLC lifted its position in shares of Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after purchasing an additional 1,278 shares in the last quarter. Woodline Partners LP raised its stake in Regions Financial by 40.7% in the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after buying an additional 22,216 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Regions Financial by 80.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 20,006 shares of the bank’s stock worth $471,000 after buying an additional 8,901 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Regions Financial by 12.3% during the 2nd quarter. Ballentine Partners LLC now owns 18,372 shares of the bank’s stock worth $432,000 after acquiring an additional 2,011 shares in the last quarter. Finally, American National Bank & Trust increased its holdings in shares of Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,022 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on RF shares. Evercore ISI cut Regions Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $27.00 to $29.00 in a report on Tuesday, January 6th. Wells Fargo & Company downgraded shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Barclays increased their price target on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Finally, Wall Street Zen lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Regions Financial currently has an average rating of “Hold” and an average price target of $29.27.

About Regions Financial

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.