Brokerages predict that Regions Financial Corp (NYSE:RF) will report sales of $1.48 billion for the current fiscal quarter, Zacks reports. Twenty Five analysts have issued estimates for Regions Financial’s earnings. The lowest sales estimate is $1.46 billion and the highest is $1.50 billion. Regions Financial reported sales of $1.46 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.4%. The business is scheduled to announce its next earnings report on Friday, January 18th.
According to Zacks, analysts expect that Regions Financial will report full-year sales of $5.82 billion for the current financial year, with estimates ranging from $5.76 billion to $6.09 billion. For the next fiscal year, analysts forecast that the firm will report sales of $6.01 billion, with estimates ranging from $5.89 billion to $6.11 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Regions Financial.
Regions Financial (NYSE:RF) last posted its earnings results on Tuesday, October 23rd. The bank reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Regions Financial had a net margin of 26.39% and a return on equity of 10.15%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS.
A number of research analysts have commented on the stock. Raymond James raised shares of Regions Financial from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, October 31st. They noted that the move was a valuation call. Vining Sparks reissued a “buy” rating and set a $22.00 target price on shares of Regions Financial in a research report on Tuesday, October 9th. B. Riley set a $20.00 target price on shares of Regions Financial and gave the company a “hold” rating in a research report on Monday, October 15th. Finally, Wedbush set a $22.00 price objective on shares of Regions Financial and gave the stock a “buy” rating in a research report on Friday, September 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $18.91.
NYSE RF traded down $0.43 during trading on Tuesday, reaching $17.24. 549,840 shares of the company’s stock traded hands, compared to its average volume of 16,448,323. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $19.45 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 0.99 and a beta of 1.29. Regions Financial has a 12-month low of $15.06 and a 12-month high of $20.21.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 7th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, December 6th. Regions Financial’s payout ratio is currently 56.00%.
Several institutional investors have recently modified their holdings of RF. Principal Financial Group Inc. grew its position in shares of Regions Financial by 61.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,097,100 shares of the bank’s stock worth $57,544,000 after buying an additional 1,183,688 shares during the last quarter. DnB Asset Management AS grew its position in Regions Financial by 4.1% during the 2nd quarter. DnB Asset Management AS now owns 142,314 shares of the bank’s stock worth $2,530,000 after purchasing an additional 5,600 shares during the last quarter. IFM Investors Pty Ltd grew its position in Regions Financial by 34.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 56,190 shares of the bank’s stock worth $999,000 after purchasing an additional 14,423 shares during the last quarter. CENTRAL TRUST Co grew its position in Regions Financial by 15.8% during the 2nd quarter. CENTRAL TRUST Co now owns 62,991 shares of the bank’s stock worth $1,120,000 after purchasing an additional 8,572 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in Regions Financial by 15.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 275,923 shares of the bank’s stock worth $4,904,000 after purchasing an additional 37,630 shares during the last quarter. 73.85% of the stock is currently owned by hedge funds and other institutional investors.
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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