Wedbush Weighs in on Regions Financial Co.’s FY2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Equities researchers at Wedbush reduced their FY2024 earnings per share estimates for Regions Financial in a note issued to investors on Tuesday, September 24th. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $1.90 per share for the year, down from their previous forecast of $2.00. Wedbush currently has a “Outperform” rating and a $28.00 target price on the stock. The consensus estimate for Regions Financial’s current full-year earnings is $2.01 per share. Wedbush also issued estimates for Regions Financial’s Q1 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.59 EPS, Q1 2026 earnings at $0.59 EPS and Q2 2026 earnings at $0.62 EPS.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The business’s revenue for the quarter was down 11.5% on a year-over-year basis.

RF has been the topic of several other reports. Citigroup lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada increased their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Morgan Stanley lifted their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods lowered their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Finally, StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.06.

Regions Financial Price Performance

Regions Financial stock opened at $22.54 on Thursday. Regions Financial has a 1 year low of $13.72 and a 1 year high of $23.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a 50 day moving average price of $22.15 and a 200 day moving average price of $20.49. The company has a market cap of $20.64 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 2.95 and a beta of 1.17.

Hedge Funds Weigh In On Regions Financial

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after purchasing an additional 1,951,026 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after purchasing an additional 979,597 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Regions Financial by 1.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock valued at $162,163,000 after purchasing an additional 103,529 shares in the last quarter. Finally, Cincinnati Insurance Co. bought a new stake in shares of Regions Financial during the first quarter valued at about $74,606,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.44%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s payout ratio is currently 54.35%.

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.