Regions Financial Co. Forecasted to Earn Q2 2024 Earnings of $0.50 Per Share (NYSE:RF)

Regions Financial Co. (NYSE:RF) – DA Davidson increased their Q2 2024 earnings per share estimates for Regions Financial in a report released on Thursday, June 27th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $0.50 for the quarter, up from their prior estimate of $0.48. The consensus estimate for Regions Financial’s current full-year earnings is $1.96 per share.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the company posted $0.62 earnings per share. Regions Financial’s revenue for the quarter was down 10.5% compared to the same quarter last year.

RF has been the subject of a number of other research reports. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Piper Sandler raised their price objective on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Morgan Stanley lowered their target price on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Hold” and an average price target of $20.28.

Regions Financial Stock Up 1.0 %

Shares of Regions Financial stock opened at $20.09 on Monday. Regions Financial has a 1-year low of $13.72 and a 1-year high of $21.08. The company has a market capitalization of $18.40 billion, a PE ratio of 10.92, a P/E/G ratio of 2.19 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The business has a 50-day moving average of $19.32 and a 200-day moving average of $19.18.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Regions Financial during the fourth quarter worth $210,379,000. Wellington Management Group LLP raised its stake in shares of Regions Financial by 8.4% during the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock worth $925,780,000 after purchasing an additional 4,160,768 shares in the last quarter. Cincinnati Insurance Co. acquired a new stake in shares of Regions Financial during the 1st quarter valued at about $74,606,000. Vanguard Group Inc. grew its stake in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Regions Financial in the first quarter worth approximately $33,829,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Activity

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director William C. Rhodes III purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date was Monday, June 3rd. Regions Financial’s payout ratio is 52.17%.

About Regions Financial

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.