DA Davidson Comments on Regions Financial Co.’s Q3 2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Stock analysts at DA Davidson issued their Q3 2024 earnings estimates for Regions Financial in a research report issued to clients and investors on Monday, July 22nd. DA Davidson analyst P. Winter forecasts that the bank will post earnings of $0.54 per share for the quarter. The consensus estimate for Regions Financial’s current full-year earnings is $1.98 per share. DA Davidson also issued estimates for Regions Financial’s FY2024 earnings at $2.06 EPS and FY2025 earnings at $2.26 EPS.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share.

Several other research firms have also recently weighed in on RF. Keefe, Bruyette & Woods decreased their price objective on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Piper Sandler boosted their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Morgan Stanley decreased their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Jefferies Financial Group boosted their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.32.

Regions Financial Stock Down 1.3 %

Shares of Regions Financial stock opened at $22.11 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $20.25 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 2.53 and a beta of 1.18. Regions Financial has a 52-week low of $13.72 and a 52-week high of $22.84. The company has a 50-day simple moving average of $19.73 and a two-hundred day simple moving average of $19.38.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.25 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Tuesday, September 3rd. Regions Financial’s dividend payout ratio is presently 52.17%.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the company’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 value of $458,850.00. Following the completion of the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently modified their holdings of RF. Norges Bank bought a new position in shares of Regions Financial during the fourth quarter worth $210,379,000. Cincinnati Insurance Co. bought a new position in shares of Regions Financial during the first quarter worth $74,606,000. Vanguard Group Inc. boosted its position in shares of Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after acquiring an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP lifted its position in Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Regions Financial during the first quarter valued at $33,829,000. Institutional investors own 79.39% 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. 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.