Equities research analysts expect that Regions Financial Corp (NYSE:RF) will report earnings per share of $0.39 for the current quarter, according to Zacks Investment Research. Twenty Four analysts have made estimates for Regions Financial’s earnings, with the lowest EPS estimate coming in at $0.37 and the highest estimate coming in at $0.41. 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 21.9%. The business is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, October 22nd.
According to Zacks, analysts expect that Regions Financial will report full year earnings of $1.54 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.57. For the next financial year, analysts expect that the company will post earnings of $1.63 per share, with EPS estimates ranging from $1.57 to $1.68. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Regions Financial.
Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 19th. The bank reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The firm’s revenue was down .1% on a year-over-year basis.
A number of brokerages have recently issued reports on RF. Citigroup cut shares of Regions Financial from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $16.00 to $14.00 in a research note on Tuesday, October 8th. Jefferies Financial Group raised shares of Regions Financial from a “hold” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $18.00 in a research note on Tuesday, October 8th. ValuEngine raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James set a $18.50 price objective on shares of Regions Financial and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Morgan Stanley set a $16.00 price objective on shares of Regions Financial and gave the stock a “hold” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Regions Financial has an average rating of “Hold” and a consensus price target of $16.74.
RF stock traded up $0.30 during midday trading on Monday, reaching $16.07. 8,955,467 shares of the company’s stock traded hands, compared to its average volume of 11,692,845. Regions Financial has a 52-week low of $12.39 and a 52-week high of $17.88. The stock has a market cap of $16.03 billion, a P/E ratio of 11.82, a PEG ratio of 1.54 and a beta of 1.55. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. The stock’s 50-day moving average is $15.58 and its 200 day moving average is $15.00.
Regions Financial declared that its Board of Directors has authorized a share buyback program on Thursday, June 27th that authorizes the company to buyback $1.37 billion in shares. This buyback authorization authorizes the bank to buy up to 9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.86%. Regions Financial’s dividend payout ratio is 45.59%.
In related news, COO John B. Owen sold 40,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $14.63, for a total transaction of $585,200.00. Following the completion of the transaction, the chief operating officer now owns 87,152 shares in the company, valued at $1,275,033.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP C. Keith Herron sold 69,288 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $14.51, for a total transaction of $1,005,368.88. Following the transaction, the executive vice president now owns 232,595 shares of the company’s stock, valued at approximately $3,374,953.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,436 shares of company stock valued at $2,024,102. 0.28% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of RF. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Regions Financial by 12.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 28,152 shares of the bank’s stock worth $398,000 after buying an additional 3,102 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Regions Financial by 34.4% during the first quarter. First Trust Advisors LP now owns 1,615,525 shares of the bank’s stock worth $22,860,000 after buying an additional 413,561 shares in the last quarter. Thor Advisors LLC acquired a new position in shares of Regions Financial during the first quarter worth $72,000. Belpointe Asset Management LLC acquired a new position in shares of Regions Financial during the first quarter worth $399,000. Finally, Marshall Wace LLP increased its holdings in shares of Regions Financial by 928.2% during the first quarter. Marshall Wace LLP now owns 1,107,998 shares of the bank’s stock worth $15,678,000 after buying an additional 1,000,240 shares in the last quarter. Hedge funds and other institutional investors own 71.60% 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 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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