Regions Financial Co. (NYSE:RF) to Post Q3 2022 Earnings of $0.55 Per Share, Wedbush Forecasts

Regions Financial Co. (NYSE:RF – Get Rating) – Stock analysts at Wedbush boosted their Q3 2022 earnings per share (EPS) estimates for shares of Regions Financial in a note issued to investors on Sunday, April 24th. Wedbush analyst P. Winter now forecasts that the bank will earn $0.55 per share for the quarter, up from their previous forecast of $0.53. Wedbush also issued estimates for Regions Financial’s Q4 2022 earnings at $0.57 EPS, Q1 2023 earnings at $0.57 EPS, Q2 2023 earnings at $0.58 EPS, Q3 2023 earnings at $0.61 EPS, Q4 2023 earnings at $0.63 EPS and FY2023 earnings at $2.37 EPS.

Regions Financial (NYSE:RF – Get Rating) last issued its quarterly earnings results on Friday, April 22nd. The bank reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.08. Regions Financial had a net margin of 38.17% and a return on equity of 15.33%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business posted $0.63 earnings per share. Regions Financial’s revenue for the quarter was down .3% compared to the same quarter last year.

Other equities analysts have also issued reports about the stock. Barclays raised shares of Regions Financial from an “underweight” rating to an “equal weight” rating and set a $26.00 target price for the company in a research note on Monday, January 3rd. JPMorgan Chase & Co. upped their target price on shares of Regions Financial from $26.50 to $27.00 in a report on Thursday, February 3rd. Wolfe Research cut shares of Regions Financial from an “outperform” rating to a “peer perform” rating and dropped their target price for the company from $29.00 to $24.00 in a report on Thursday, April 7th. Morgan Stanley lowered their price target on shares of Regions Financial from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, March 28th. Finally, Wells Fargo & Company raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $24.00 to $26.00 in a report on Monday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.17.

RF opened at $21.60 on Tuesday. The company has a fifty day moving average price of $22.41 and a two-hundred day moving average price of $23.02. The firm has a market capitalization of $20.24 billion, a PE ratio of 9.00, a P/E/G ratio of 0.63 and a beta of 1.29. Regions Financial has a 52 week low of $18.02 and a 52 week high of $25.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.83 and a current ratio of 0.84.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, June 2nd. Regions Financial’s payout ratio is 28.33%.

Institutional investors have recently added to or reduced their stakes in the company. AE Wealth Management LLC boosted its stake in shares of Regions Financial by 8.4% during the third quarter. AE Wealth Management LLC now owns 61,960 shares of the bank’s stock valued at $1,320,000 after purchasing an additional 4,819 shares during the period. ING Groep NV raised its holdings in Regions Financial by 1.5% in the third quarter. ING Groep NV now owns 80,138 shares of the bank’s stock worth $1,708,000 after purchasing an additional 1,187 shares in the last quarter. Dupont Capital Management Corp raised its holdings in Regions Financial by 1,693.1% in the third quarter. Dupont Capital Management Corp now owns 173,317 shares of the bank’s stock worth $3,693,000 after purchasing an additional 163,651 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Regions Financial by 1.0% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 711,605 shares of the bank’s stock valued at $15,164,000 after acquiring an additional 7,100 shares in the last quarter. Finally, Herold Advisors Inc. acquired a new position in shares of Regions Financial during the third quarter valued at about $74,000. Hedge funds and other institutional investors own 74.88% of the company’s stock.

Regions Financial Company Profile (Get Rating)

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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