Wall Street brokerages predict that Regions Financial Corp (NYSE:RF) will post earnings per share (EPS) of $0.39 for the current quarter, according to Zacks. Twenty Three analysts have provided estimates for Regions Financial’s earnings. The lowest EPS estimate is $0.37 and the highest is $0.41. Regions Financial reported earnings of $0.37 per share in the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The company is scheduled to announce its next quarterly earnings results on Friday, January 17th.
On average, analysts expect that Regions Financial will report full-year earnings of $1.53 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.57. For the next year, analysts expect that the business will post earnings of $1.62 per share, with EPS estimates ranging from $1.54 to $1.68. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Regions Financial.
Regions Financial (NYSE:RF) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.39 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.39. Regions Financial had a return on equity of 10.88% and a net margin of 23.78%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year.
A number of research firms have recently commented on RF. Wedbush raised Regions Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $15.00 to $17.00 in a research note on Monday, July 22nd. Raymond James set a $18.50 target price on Regions Financial and gave the stock a “buy” rating in a report on Thursday, September 12th. Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $16.00 to $18.00 in a report on Tuesday, October 8th. UBS Group lifted their target price on Regions Financial from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley set a $16.00 target price on Regions Financial and gave the stock a “hold” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.74.
Shares of RF traded down $0.03 during midday trading on Tuesday, reaching $16.88. The stock had a trading volume of 6,622,510 shares, compared to its average volume of 11,533,622. Regions Financial has a 52 week low of $12.39 and a 52 week high of $17.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50 day moving average price is $15.96 and its 200-day moving average price is $15.12. The company has a market capitalization of $17.16 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.57 and a beta of 1.56.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Thursday, December 5th. Regions Financial’s payout ratio is 45.59%.
In other news, EVP C. Keith Herron sold 69,288 shares of Regions Financial stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $14.51, for a total transaction of $1,005,368.88. Following the transaction, the executive vice president now owns 232,595 shares in the company, valued at $3,374,953.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hardie B. Kimbrough, Jr. sold 18,409 shares of Regions Financial stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $16.27, for a total value of $299,514.43. Following the transaction, the insider now owns 20,009 shares in the company, valued at approximately $325,546.43. The disclosure for this sale can be found here. Insiders sold a total of 107,697 shares of company stock worth $1,633,483 over the last 90 days. Insiders own 0.28% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Regions Financial by 0.4% during the second quarter. Vanguard Group Inc. now owns 124,955,465 shares of the bank’s stock valued at $1,866,834,000 after purchasing an additional 540,749 shares during the last quarter. Bank of America Corp DE boosted its position in Regions Financial by 20.6% during the second quarter. Bank of America Corp DE now owns 12,704,955 shares of the bank’s stock valued at $189,812,000 after purchasing an additional 2,172,240 shares during the last quarter. Boston Partners boosted its position in Regions Financial by 6.2% during the second quarter. Boston Partners now owns 12,570,448 shares of the bank’s stock valued at $187,804,000 after purchasing an additional 732,007 shares during the last quarter. Invesco Ltd. boosted its position in Regions Financial by 68.9% during the second quarter. Invesco Ltd. now owns 10,444,676 shares of the bank’s stock valued at $156,043,000 after purchasing an additional 4,259,901 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Regions Financial by 4.8% during the second quarter. Parametric Portfolio Associates LLC now owns 7,577,935 shares of the bank’s stock valued at $113,214,000 after purchasing an additional 349,158 shares during the last quarter. Institutional investors and hedge funds own 71.42% 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 in the United States. 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 services; corresponding 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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