Regions Financial Co. Expected to Earn FY2024 Earnings of $1.97 Per Share (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Equities research analysts at DA Davidson lowered their FY2024 earnings per share estimates for Regions Financial in a report released on Monday, April 22nd. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $1.97 for the year, down from their prior estimate of $2.00. The consensus estimate for Regions Financial’s current full-year earnings is $1.95 per share.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. 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 revenue for the quarter was down 10.5% on a year-over-year basis.

A number of other research analysts have also recently issued reports on the company. Argus cut Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Truist Financial decreased their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $15.00 to $22.00 in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.17.

Regions Financial Stock Up 2.1 %

Shares of NYSE RF opened at $19.75 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. Regions Financial has a 52 week low of $13.72 and a 52 week high of $21.08. The stock has a market capitalization of $18.15 billion, a P/E ratio of 10.73, a PEG ratio of 1.40 and a beta of 1.21. The stock’s fifty day moving average is $19.39 and its 200 day moving average is $18.06.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s dividend payout ratio is currently 52.17%.

Insiders Place Their Bets

In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regions Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. raised its position in Regions Financial by 16.5% in the 4th quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock valued at $75,000 after buying an additional 549 shares during the last quarter. CWM LLC grew its stake in Regions Financial by 1.4% in the 1st 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 period. Signet Financial Management LLC grew its stake in Regions Financial by 4.9% in the 1st 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 period. Pinnacle Financial Partners Inc grew its stake in Regions Financial by 0.4% in the 4th quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank’s stock valued at $2,797,000 after purchasing an additional 606 shares during the period. Finally, MV Capital Management Inc. grew its stake in Regions Financial by 75.6% in the 1st 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 during the period. Institutional investors own 79.39% of the company’s stock.

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.