Regions Financial (NYSE:RF) Announces Earnings Results, Beats Estimates By $0.05 EPS

Regions Financial (NYSE:RFGet Free Report) released its earnings results on Friday. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05, FiscalAI reports. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company earned $0.60 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year.

Regions Financial Price Performance

NYSE:RF opened at $32.35 on Friday. The company has a 50-day moving average of $28.87 and a 200-day moving average of $28.22. The company has a market capitalization of $27.61 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.22 and a beta of 1.00. Regions Financial has a 52 week low of $22.70 and a 52 week high of $32.47. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is 44.17%.

Wall Street Analysts Forecast Growth

RF has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Cantor Fitzgerald upped their price objective on shares of Regions Financial from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group increased their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Robert W. Baird reissued an “underperform” rating and set a $28.00 target price on shares of Regions Financial in a research report on Monday, July 6th. Finally, Evercore restated an “underperform” rating and set a $31.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and a consensus target price of $31.28.

View Our Latest Report on Regions Financial

Insiders Place Their Bets

In related news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Regions Financial

Institutional investors have recently added to or reduced their stakes in the stock. Compound Planning Inc. raised its holdings in shares of Regions Financial by 3.1% in the 4th quarter. Compound Planning Inc. now owns 31,481 shares of the bank’s stock worth $853,000 after buying an additional 949 shares in the last quarter. Invesco Ltd. grew its position in Regions Financial by 3.1% in the fourth quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock valued at $524,337,000 after acquiring an additional 573,659 shares during the period. Corient Private Wealth LLC grew its position in Regions Financial by 94.4% in the fourth quarter. Corient Private Wealth LLC now owns 173,732 shares of the bank’s stock valued at $4,708,000 after acquiring an additional 84,341 shares during the period. Ameriflex Group Inc. raised its stake in Regions Financial by 112.2% during the fourth quarter. Ameriflex Group Inc. now owns 1,901 shares of the bank’s stock worth $52,000 after acquiring an additional 1,005 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in Regions Financial by 33.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 306,679 shares of the bank’s stock worth $8,316,000 after acquiring an additional 76,297 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

About Regions Financial

(Get Free Report)

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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Earnings History for Regions Financial (NYSE:RF)

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