Insider Selling: Regions Financial Corporation (NYSE:RF) EVP Sells 30,000 Shares of Stock

Key Points

• David R. Keenan, Executive Vice President of Regions Financial Corporation, sold 30,000 shares at an average price of $25.01, resulting in a total transaction of $750,300, decreasing his ownership by 24.81%.
• Regions Financial announced a **quarterly dividend increase** from $0.25 to $0.265, with a yield of 4.3% and a payout ratio of 49.30%.
• Analysts have varying ratings for Regions Financial's stock, with a consensus target price of **$27.33**, suggesting a moderately positive outlook amidst recent performance fluctuations.

Regions Financial Corporation (NYSE:RF - Get Free Report) EVP David R. Keenan sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the transaction, the executive vice president directly owned 90,915 shares of the company's stock, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Regions Financial Price Performance

Regions Financial stock traded up $0.28 during trading hours on Friday, hitting $24.92. The stock had a trading volume of 7,576,761 shares, compared to its average volume of 9,786,812. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. Regions Financial Corporation has a 1-year low of $17.74 and a 1-year high of $27.96. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.43 and a beta of 1.01. The stock's fifty day moving average is $23.83 and its two-hundred day moving average is $22.60.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The bank reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company earned $0.52 earnings per share. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.265 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 4.3%. Regions Financial's payout ratio is currently 49.30%.

Hedge Funds Weigh In On Regions Financial

Several large investors have recently added to or reduced their stakes in RF. American National Bank & Trust increased its position in Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank's stock worth $25,000 after purchasing an additional 1,022 shares during the last quarter. CVA Family Office LLC grew its stake in shares of Regions Financial by 163.2% during the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank's stock valued at $25,000 after buying an additional 656 shares during the period. Bayforest Capital Ltd increased its holdings in shares of Regions Financial by 637.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after buying an additional 1,058 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Regions Financial in the 2nd quarter worth $30,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Regions Financial in the second quarter valued at $32,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RF. The Goldman Sachs Group lowered their target price on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Cowen began coverage on shares of Regions Financial in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Jefferies Financial Group assumed coverage on shares of Regions Financial in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target on the stock. TD Cowen began coverage on Regions Financial in a report on Thursday, May 15th. They set a "buy" rating and a $31.00 price objective on the stock. Finally, Barclays reissued an "underweight" rating and issued a $27.00 price objective (up from $24.00) on shares of Regions Financial in a report on Monday, July 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.33.

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.

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