DA Davidson Comments on Regions Financial Co.’s Q2 2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for Regions Financial in a research report issued to clients and investors on Monday, April 22nd. DA Davidson analyst P. Winter expects that the bank will earn $0.48 per share for the quarter. The consensus estimate for Regions Financial’s current full-year earnings is $1.97 per share. DA Davidson also issued estimates for Regions Financial’s FY2025 earnings at $2.19 EPS.

Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday. Barclays reissued an “underweight” rating and issued a $22.00 price target (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. StockNews.com lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods increased their price target on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada increased their price target on shares of Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus price target of $20.17.

Regions Financial Stock Up 0.8 %

NYSE RF opened at $19.34 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a 50-day simple moving average of $19.36 and a 200 day simple moving average of $18.05. Regions Financial has a twelve month low of $13.72 and a twelve month high of $21.08. The stock has a market cap of $17.77 billion, a PE ratio of 10.51, a PEG ratio of 1.37 and a beta of 1.21.

Regions Financial (NYSE:RF) last released its 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). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the business posted $0.62 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis.

Institutional Trading of Regions Financial

Several hedge funds have recently modified their holdings of the stock. Whittier Trust Co. grew its stake in shares of Regions Financial by 16.5% during the fourth quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock valued at $75,000 after purchasing an additional 549 shares during the last quarter. CWM LLC grew its stake in shares of Regions Financial by 1.4% during the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after purchasing an additional 556 shares during the last quarter. Signet Financial Management LLC grew its stake in shares of Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after purchasing an additional 584 shares during the last quarter. Pinnacle Financial Partners Inc boosted its stake in Regions Financial by 0.4% in the fourth quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank’s stock valued at $2,797,000 after acquiring an additional 606 shares during the last quarter. Finally, MV Capital Management Inc. boosted 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 acquiring an additional 618 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.96%. The ex-dividend date is Friday, May 31st. Regions Financial’s payout ratio is 52.17%.

About Regions Financial

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.