Brokerages expect that Regions Financial Corp (NYSE:RF) will report $0.39 earnings per share (EPS) for the current quarter, Zacks reports. Twenty Three analysts have made estimates for Regions Financial’s earnings. The lowest EPS estimate is $0.37 and the highest is $0.41. Regions Financial reported earnings per share of $0.37 in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The firm is expected to announce its next earnings report on Friday, January 17th.
On average, analysts expect that Regions Financial will report full-year earnings of $1.53 per share for the current fiscal year, with EPS estimates ranging from $1.50 to $1.57. For the next year, analysts forecast that the firm will report earnings of $1.62 per share, with EPS estimates ranging from $1.54 to $1.68. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Regions Financial.
Regions Financial (NYSE:RF) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year.
RF has been the subject of a number of analyst reports. SunTrust Banks reduced their price target on Regions Financial from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Raymond James set a $18.50 price target on Regions Financial and gave the stock a “buy” rating in a research report on Thursday, September 12th. Wedbush raised Regions Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $15.00 to $17.00 in a research report on Monday, July 22nd. Citigroup cut Regions Financial from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $16.00 to $14.00 in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $16.00 to $18.00 in a research report on Tuesday, October 8th. 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. Regions Financial presently has an average rating of “Hold” and a consensus target price of $16.74.
In other news, insider Hardie B. Kimbrough, Jr. sold 18,409 shares of Regions Financial stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $16.27, for a total value of $299,514.43. Following the transaction, the insider now directly owns 20,009 shares in the company, valued at $325,546.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP C. Matthew Lusco sold 20,000 shares of Regions Financial stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $16.43, for a total value of $328,600.00. Following the completion of the transaction, the executive vice president now owns 163,229 shares in the company, valued at $2,681,852.47. The disclosure for this sale can be found here. Insiders sold 107,697 shares of company stock worth $1,633,483 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of RF. Covington Capital Management bought a new position in Regions Financial during the second quarter valued at about $25,000. Quest Capital Management Inc. ADV bought a new position in Regions Financial during the third quarter valued at about $38,000. Mcmillion Capital Management Inc. bought a new position in Regions Financial during the second quarter valued at about $40,000. Doyle Wealth Management bought a new position in Regions Financial during the second quarter valued at about $45,000. Finally, Phocas Financial Corp. bought a new position in Regions Financial during the second quarter valued at about $46,000. Institutional investors and hedge funds own 71.42% of the company’s stock.
Shares of NYSE:RF traded down $0.03 on Tuesday, reaching $16.88. The company had a trading volume of 6,622,510 shares, compared to its average volume of 11,533,622. Regions Financial has a twelve month low of $12.39 and a twelve month high of $17.78. The stock has a 50-day moving average price of $15.96 and a 200 day moving average price of $15.12. The stock 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 company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $0.155 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.67%. Regions Financial’s payout ratio is presently 45.59%.
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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