Brokerages expect that Regions Financial Corp (NYSE:RF) will post earnings of $0.33 per share for the current quarter, Zacks Investment Research reports. Twenty Three analysts have made estimates for Regions Financial’s earnings, with estimates ranging from $0.31 to $0.35. Regions Financial reported earnings per share of $0.25 during the same quarter last year, which suggests a positive year over year growth rate of 32%. The company is scheduled to announce its next quarterly earnings report before the market opens on Friday, July 20th.
According to Zacks, analysts expect that Regions Financial will report full year earnings of $1.40 per share for the current financial year, with EPS estimates ranging from $1.36 to $1.45. For the next year, analysts anticipate that the business will post earnings of $1.54 per share, with EPS estimates ranging from $1.47 to $1.65. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Regions Financial.
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Regions Financial (NYSE:RF) last released its earnings results on Friday, April 20th. The bank reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. Regions Financial had a net margin of 22.06% and a return on equity of 8.75%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm earned $0.23 earnings per share.
A number of equities analysts recently issued reports on RF shares. ValuEngine downgraded Regions Financial from a “buy” rating to a “hold” rating in a report on Friday, June 15th. Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of Regions Financial in a report on Sunday, April 22nd. Royal Bank of Canada raised Regions Financial from a “sector perform” rating to an “outperform” rating and set a $11.00 price target for the company in a report on Monday, June 18th. Robert W. Baird raised Regions Financial from an “underperform” rating to a “neutral” rating in a report on Thursday, June 28th. Finally, B. Riley upped their price target on Regions Financial from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, April 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.17.
In related news, EVP C. Matthew Lusco sold 10,000 shares of the stock in a transaction on Monday, May 14th. The stock was sold at an average price of $19.23, for a total transaction of $192,300.00. Following the completion of the sale, the executive vice president now directly owns 121,473 shares of the company’s stock, valued at $2,335,925.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Grayson Hall sold 193,228 shares of the stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $19.34, for a total value of $3,737,029.52. The disclosure for this sale can be found here. Insiders sold 518,290 shares of company stock valued at $9,879,551 over the last three months. Corporate insiders own 0.84% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. LSV Asset Management lifted its holdings in shares of Regions Financial by 0.6% during the first quarter. LSV Asset Management now owns 28,945,370 shares of the bank’s stock worth $537,804,000 after purchasing an additional 165,276 shares during the period. Millennium Management LLC lifted its holdings in shares of Regions Financial by 24.6% during the fourth quarter. Millennium Management LLC now owns 16,658,150 shares of the bank’s stock worth $287,853,000 after purchasing an additional 3,287,621 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Regions Financial by 6.8% during the first quarter. JPMorgan Chase & Co. now owns 13,063,953 shares of the bank’s stock worth $242,727,000 after purchasing an additional 832,369 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Regions Financial by 10.0% during the first quarter. The Manufacturers Life Insurance Company now owns 6,881,981 shares of the bank’s stock worth $127,868,000 after purchasing an additional 628,453 shares during the period. Finally, Teachers Advisors LLC lifted its holdings in shares of Regions Financial by 14.9% during the fourth quarter. Teachers Advisors LLC now owns 6,716,367 shares of the bank’s stock worth $116,059,000 after purchasing an additional 870,111 shares during the period. 74.95% of the stock is owned by hedge funds and other institutional investors.
Shares of RF stock traded up $0.13 during trading hours on Friday, reaching $17.59. 9,841,900 shares of the stock were exchanged, compared to its average volume of 11,157,144. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.85 and a current ratio of 0.86. Regions Financial has a 12-month low of $13.02 and a 12-month high of $20.21. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 0.89 and a beta of 1.27.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 2nd. Stockholders of record on Friday, June 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, June 7th. Regions Financial’s payout ratio is currently 36.00%.
Regions Financial Company Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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