Wedbush Research Analysts Lift Earnings Estimates for Regions Financial Co. (NYSE:RF)

Regions Financial Co. (NYSE:RFGet Rating) – Stock analysts at Wedbush lifted their Q2 2022 earnings per share (EPS) estimates for Regions Financial in a report issued on Sunday, April 24th. Wedbush analyst P. Winter now forecasts that the bank will post earnings of $0.54 per share for the quarter, up from their prior estimate of $0.53. Wedbush also issued estimates for Regions Financial’s FY2022 earnings at $2.21 EPS.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $24.00 to $26.00 in a report on Monday, April 11th. UBS Group started coverage on shares of Regions Financial in a report on Wednesday, January 12th. They issued a “buy” rating and a $32.00 price target on the stock. Wolfe Research cut shares of Regions Financial from an “outperform” rating to a “peer perform” rating and decreased their price objective for the stock from $29.00 to $24.00 in a research report on Thursday, April 7th. JPMorgan Chase & Co. upped their price objective on shares of Regions Financial from $26.50 to $27.00 in a research report on Thursday, February 3rd. Finally, Morgan Stanley decreased their price objective on shares of Regions Financial from $31.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.17.

Shares of Regions Financial stock opened at $21.02 on Wednesday. Regions Financial has a 12-month low of $18.02 and a 12-month high of $25.57. The company has a market cap of $19.70 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 0.63 and a beta of 1.29. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $22.32 and its 200-day moving average price is $23.01.

Regions Financial (NYSE:RFGet Rating) last announced its quarterly earnings results on Friday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Schroder Investment Management Group grew its holdings in shares of Regions Financial by 84.8% in the third quarter. Schroder Investment Management Group now owns 712,776 shares of the bank’s stock worth $15,189,000 after purchasing an additional 326,989 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Regions Financial in the fourth quarter worth approximately $689,000. Synovus Financial Corp grew its holdings in shares of Regions Financial by 4.0% in the third quarter. Synovus Financial Corp now owns 278,042 shares of the bank’s stock worth $5,921,000 after purchasing an additional 10,602 shares during the last quarter. Bangor Savings Bank grew its holdings in shares of Regions Financial by 11.3% in the fourth quarter. Bangor Savings Bank now owns 53,372 shares of the bank’s stock worth $1,164,000 after purchasing an additional 5,416 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Regions Financial by 26.6% in the third quarter. Cetera Investment Advisers now owns 44,079 shares of the bank’s stock worth $939,000 after purchasing an additional 9,270 shares during the last quarter. Institutional investors and hedge funds own 74.88% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, June 2nd. Regions Financial’s payout ratio is currently 28.33%.

About Regions Financial (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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Earnings History and Estimates for Regions Financial (NYSE:RF)

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