Regions Financial Co. to Post Q3 2024 Earnings of $0.52 Per Share, Wedbush Forecasts (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Equities researchers at Wedbush reduced their Q3 2024 EPS estimates for Regions Financial in a research note issued on Friday, April 19th. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $0.52 per share for the quarter, down from their previous forecast of $0.54. The consensus estimate for Regions Financial’s current full-year earnings is $1.97 per share. Wedbush also issued estimates for Regions Financial’s Q4 2024 earnings at $0.53 EPS, FY2024 earnings at $1.91 EPS and Q1 2025 earnings at $0.53 EPS.

Several other equities analysts have also weighed in on the stock. Morgan Stanley increased their price target on shares of Regions Financial from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Royal Bank of Canada increased their price target on shares of Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Evercore ISI increased their price target on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Truist Financial increased their price target on shares of Regions Financial from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Finally, Barclays reiterated an “underweight” rating and set a $22.00 target price (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average price target of $20.39.

Regions Financial Price Performance

RF opened at $18.90 on Monday. The firm has a market cap of $17.37 billion, a P/E ratio of 10.27, a PEG ratio of 1.36 and a beta of 1.21. The firm has a 50-day moving average of $19.32 and a 200 day moving average of $18.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $21.08.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. Regions Financial’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s payout ratio is 52.17%.

Institutional Investors Weigh In On Regions Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Dark Forest Capital Management LP purchased a new stake in Regions Financial in the first quarter valued at approximately $26,000. Laurel Wealth Advisors LLC raised its stake in Regions Financial by 86.5% in the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after purchasing an additional 649 shares in the last quarter. MV Capital Management Inc. raised its stake in Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Regions Financial in the fourth quarter valued at approximately $28,000. Finally, Sound Income Strategies LLC raised its stake in Regions Financial by 103.2% in the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Company Profile

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.