Regions Financial (NYSE:RF) Releases Earnings Results, Misses Expectations By $0.08 EPS

Regions Financial (NYSE:RF) announced its quarterly earnings data on Friday. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08), RTT News reports. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share.

Regions Financial Stock Performance

Shares of RF stock opened at $18.75 on Friday. The stock has a market cap of $17.23 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 1.36 and a beta of 1.21. Regions Financial has a 52-week low of $13.72 and a 52-week high of $21.08. The business has a 50-day simple moving average of $19.30 and a 200-day simple moving average of $17.97. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Monday, June 3rd. Regions Financial’s payout ratio is 45.93%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. FIL Ltd increased its holdings in shares of Regions Financial by 2.1% during the 4th quarter. FIL Ltd now owns 309,383 shares of the bank’s stock valued at $5,996,000 after purchasing an additional 6,259 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Regions Financial in the fourth quarter worth about $498,000. DRW Securities LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at about $326,000. Public Employees Retirement System of Ohio lifted its position in shares of Regions Financial by 2.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 391,571 shares of the bank’s stock valued at $7,589,000 after buying an additional 10,699 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in Regions Financial by 16.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 98,501 shares of the bank’s stock valued at $1,909,000 after acquiring an additional 14,082 shares during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Evercore ISI boosted their price objective on Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Royal Bank of Canada increased their price objective on shares of Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Truist Financial upped their price objective on Regions Financial from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, April 1st. Jefferies Financial Group upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $15.00 to $22.00 in a research report on Tuesday, January 9th. Finally, Barclays reiterated an “underweight” rating and set a $22.00 price objective (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.39.

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.