Wall Street brokerages forecast that Regions Financial Corp (NYSE:RF) will report earnings per share of $0.40 for the current quarter, Zacks Investment Research reports. Twenty Four analysts have provided estimates for Regions Financial’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.44. Regions Financial reported earnings of $0.32 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The business is expected to issue its next quarterly earnings report on Friday, July 19th.
According to Zacks, analysts expect that Regions Financial will report full year earnings of $1.56 per share for the current fiscal year, with EPS estimates ranging from $1.50 to $1.63. For the next financial year, analysts anticipate that the firm will report earnings of $1.67 per share, with EPS estimates ranging from $1.58 to $1.78. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Regions Financial.
Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 19th. The bank reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Regions Financial had a return on equity of 10.86% and a net margin of 26.43%. Regions Financial’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS.
Several equities research analysts have weighed in on RF shares. UBS Group set a $169.00 price objective on M&T Bank and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Wedbush reiterated a “buy” rating and issued a $1,350.00 price objective on shares of Alphabet in a report on Monday. Bank of America set a $97.00 price objective on Merck & Co., Inc. and gave the stock a “buy” rating in a report on Thursday, July 11th. Raymond James reiterated a “buy” rating on shares of West Fraser Timber in a report on Monday, April 22nd. Finally, ValuEngine cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $17.47.
RF stock traded down $0.01 during trading on Monday, hitting $15.12. 12,460,837 shares of the company traded hands, compared to its average volume of 12,084,977. The firm has a market capitalization of $15.33 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.67 and a beta of 1.50. Regions Financial has a 1 year low of $12.39 and a 1 year high of $19.99. The stock has a 50-day moving average of $14.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.89 and a quick ratio of 0.88.
Regions Financial announced that its board has authorized a stock repurchase program on Thursday, June 27th that allows the company to repurchase $1.37 billion in shares. This repurchase authorization allows the bank to reacquire up to 9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.70%. The ex-dividend date was Thursday, June 6th. Regions Financial’s dividend payout ratio (DPR) is currently 41.18%.
In other news, EVP David R. Keenan sold 30,877 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $15.50, for a total value of $478,593.50. Following the completion of the transaction, the executive vice president now owns 24,321 shares of the company’s stock, valued at approximately $376,975.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John B. Owen sold 61,756 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $15.25, for a total value of $941,779.00. Following the completion of the transaction, the chief operating officer now directly owns 127,152 shares of the company’s stock, valued at approximately $1,939,068. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,510 shares of company stock valued at $1,889,394. Company insiders own 0.28% of the company’s stock.
Several large investors have recently made changes to their positions in RF. Westbourne Investment Advisors Inc. increased its holdings in shares of Regions Financial by 2.1% in the 2nd quarter. Westbourne Investment Advisors Inc. now owns 90,590 shares of the bank’s stock worth $1,353,000 after purchasing an additional 1,850 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of Regions Financial by 208.7% in the 2nd quarter. AE Wealth Management LLC now owns 36,147 shares of the bank’s stock worth $540,000 after buying an additional 24,438 shares during the last quarter. Jag Capital Management LLC boosted its stake in shares of Regions Financial by 1.4% in the 2nd quarter. Jag Capital Management LLC now owns 64,880 shares of the bank’s stock worth $969,000 after buying an additional 908 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Regions Financial by 69.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,850 shares of the bank’s stock worth $162,000 after buying an additional 4,441 shares during the last quarter. Finally, FDx Advisors Inc. boosted its stake in shares of Regions Financial by 162.7% in the 2nd quarter. FDx Advisors Inc. now owns 65,237 shares of the bank’s stock worth $975,000 after buying an additional 40,408 shares during the last quarter. 71.44% of the stock is owned by hedge funds and other institutional investors.
About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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