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 company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction 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 $831,336.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Regions Financial Stock Performance

Shares of NYSE RF traded down $0.18 during mid-day trading on Tuesday, reaching $19.65. 7,827,398 shares of the company were exchanged, compared to its average volume of 8,548,369. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $21.08. The stock has a market capitalization of $18.06 billion, a P/E ratio of 10.82, a P/E/G ratio of 1.45 and a beta of 1.21. The company’s 50-day simple moving average is $19.59 and its 200-day simple moving average is $18.25. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

Regions Financial (NYSE:RF) last issued 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 return on equity of 13.28% and a net margin of 19.75%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business earned $0.62 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. As a group, research analysts predict that Regions Financial Co. will post 1.95 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.96 annualized dividend and a yield of 4.89%. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RF shares. Keefe, Bruyette & Woods upped their price objective on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Evercore ISI increased their target price on shares of Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Stephens reiterated an “equal weight” rating and issued a $21.00 price target on shares of Regions Financial in a research note on Tuesday, January 23rd. Argus downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.34.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RF. Advisor Resource Council acquired a new stake in shares of Regions Financial during the 4th quarter worth $1,944,000. Vestmark Advisory Solutions Inc. raised its position in shares of Regions Financial by 126.3% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank’s stock valued at $455,000 after buying an additional 14,756 shares in the last quarter. abrdn plc raised its position in shares of Regions Financial by 17.0% in the 4th quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock valued at $45,546,000 after buying an additional 341,878 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Regions Financial by 19.6% during the 3rd quarter. LPL Financial LLC now owns 582,491 shares of the bank’s stock worth $10,019,000 after acquiring an additional 95,271 shares during the period. Finally, Vaughan David Investments LLC IL boosted its position in shares of Regions Financial by 48.9% during the 4th quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank’s stock worth $47,886,000 after acquiring an additional 811,174 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

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.