Wall Street analysts forecast that Regions Financial Corp (NYSE:RF) will announce sales of $1.47 billion for the current quarter, Zacks reports. Twenty Four analysts have provided estimates for Regions Financial’s earnings, with the highest sales estimate coming in at $1.50 billion and the lowest estimate coming in at $1.46 billion. Regions Financial posted sales of $1.46 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 0.7%. The company is expected to report its next quarterly earnings results before the market opens on Tuesday, October 22nd.
According to Zacks, analysts expect that Regions Financial will report full-year sales of $5.84 billion for the current financial year, with estimates ranging from $5.80 billion to $5.91 billion. For the next year, analysts forecast that the firm will post sales of $5.93 billion, with estimates ranging from $5.84 billion to $6.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Regions Financial.
Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Regions Financial’s revenue for the quarter was down .1% on a year-over-year basis.
Several analysts recently weighed in on RF shares. ValuEngine raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Citigroup cut shares of Regions Financial from a “neutral” rating to a “sell” rating and cut their price target for the company from $16.00 to $14.00 in a research report on Tuesday, October 8th. SunTrust Banks cut their price target on shares of Regions Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Raymond James set a $18.50 price target on shares of Regions Financial and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley set a $16.00 price target on shares of Regions Financial and gave the company a “hold” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.74.
In other news, EVP C. Matthew Lusco sold 20,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $16.43, for a total transaction of $328,600.00. Following the transaction, the executive vice president now owns 163,229 shares of the company’s stock, valued at approximately $2,681,852.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP C. Keith Herron sold 69,288 shares of the stock in a transaction dated 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 directly owns 232,595 shares in the company, valued at approximately $3,374,953.45. The disclosure for this sale can be found here. Insiders have sold 136,436 shares of company stock worth $2,024,102 in the last ninety days. Insiders own 0.28% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. KG&L Capital Management LLC boosted its position in shares of Regions Financial by 6.2% during the 2nd quarter. KG&L Capital Management LLC now owns 50,101 shares of the bank’s stock worth $748,000 after purchasing an additional 2,938 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Regions Financial by 2,267.8% during the 2nd quarter. Bessemer Group Inc. now owns 242,939 shares of the bank’s stock worth $3,629,000 after purchasing an additional 232,679 shares in the last quarter. Lee Danner & Bass Inc. raised its holdings in shares of Regions Financial by 70.8% in the 2nd quarter. Lee Danner & Bass Inc. now owns 150,140 shares of the bank’s stock worth $2,243,000 after acquiring an additional 62,247 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Regions Financial by 15.5% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 19,438 shares of the bank’s stock worth $290,000 after acquiring an additional 2,607 shares during the last quarter. Finally, BB&T Securities LLC raised its holdings in shares of Regions Financial by 181.5% in the 2nd quarter. BB&T Securities LLC now owns 333,514 shares of the bank’s stock worth $4,982,000 after acquiring an additional 215,029 shares during the last quarter. 71.60% of the stock is currently owned by institutional investors.
Shares of Regions Financial stock traded up $0.30 during trading on Wednesday, hitting $16.07. The company’s stock had a trading volume of 8,955,467 shares, compared to its average volume of 11,692,845. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.89 and a quick ratio of 0.88. Regions Financial has a 52 week low of $12.39 and a 52 week high of $17.88. The stock has a market cap of $16.03 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.54 and a beta of 1.55. The stock has a 50-day moving average price of $15.58 and a two-hundred day moving average price of $15.00.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.62 dividend on an annualized basis and a yield of 3.86%. Regions Financial’s dividend payout ratio (DPR) is currently 45.59%.
Regions Financial announced that its Board of Directors has approved a share buyback plan on Thursday, June 27th that permits the company to buyback $1.37 billion in outstanding shares. This buyback authorization permits the bank to buy up to 9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
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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