Wall Street analysts expect Regions Financial Corporation (NYSE:RF) to report earnings per share (EPS) of $0.24 for the current fiscal quarter, Zacks reports. Twenty Two analysts have provided estimates for Regions Financial Corporation’s earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.26. Regions Financial Corporation posted earnings per share of $0.20 in the same quarter last year, which would indicate a positive year over year growth rate of 20%. The company is scheduled to report its next quarterly earnings results on Tuesday, July 18th.
According to Zacks, analysts expect that Regions Financial Corporation will report full year earnings of $0.98 per share for the current year, with EPS estimates ranging from $0.94 to $1.03. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.12 per share, with EPS estimates ranging from $1.05 to $1.26. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Regions Financial Corporation.
Regions Financial Corporation (NYSE:RF) last announced its quarterly earnings data on Tuesday, April 18th. The bank reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Regions Financial Corporation had a net margin of 19.94% and a return on equity of 7.27%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share.
RF has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and set a $16.00 price objective on shares of Regions Financial Corporation in a research note on Tuesday, March 7th. Bank of America Corporation upgraded Regions Financial Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $17.00 in a research note on Thursday, May 4th. SunTrust Banks, Inc. upgraded Regions Financial Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, February 16th. Argus cut Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research note on Monday, May 1st. Finally, Rafferty Capital Markets cut Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research note on Thursday, April 20th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $13.87.
Shares of Regions Financial Corporation (NYSE RF) traded down 0.28% during trading on Wednesday, reaching $14.36. 25,258,159 shares of the company were exchanged. The company has a market capitalization of $17.26 billion, a PE ratio of 15.78 and a beta of 1.34. The firm’s 50 day moving average price is $14.02 and its 200 day moving average price is $14.37. Regions Financial Corporation has a one year low of $7.80 and a one year high of $16.03.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be issued a dividend of $0.07 per share. This is a positive change from Regions Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Wednesday, June 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.95%. Regions Financial Corporation’s payout ratio is presently 31.11%.
In related news, Chairman Grayson Hall sold 202,231 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $13.51, for a total value of $2,732,140.81. Following the completion of the sale, the chairman now owns 494,874 shares in the company, valued at approximately $6,685,747.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David J. Turner, Jr. sold 45,535 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $13.82, for a total value of $629,293.70. Following the completion of the sale, the chief financial officer now owns 126,160 shares of the company’s stock, valued at approximately $1,743,531.20. The disclosure for this sale can be found here. Insiders have sold 396,176 shares of company stock valued at $5,418,986 in the last three months. 0.52% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in RF. Sowell Financial Services LLC increased its stake in Regions Financial Corporation by 60.6% in the first quarter. Sowell Financial Services LLC now owns 11,245 shares of the bank’s stock worth $160,000 after buying an additional 4,245 shares during the last quarter. Patten Group Inc. increased its stake in Regions Financial Corporation by 3.6% in the first quarter. Patten Group Inc. now owns 64,091 shares of the bank’s stock worth $925,000 after buying an additional 2,204 shares during the last quarter. Piedmont Investment Advisors LLC increased its stake in Regions Financial Corporation by 1.7% in the first quarter. Piedmont Investment Advisors LLC now owns 104,685 shares of the bank’s stock worth $1,521,000 after buying an additional 1,741 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Regions Financial Corporation by 3.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,491,451 shares of the bank’s stock worth $21,671,000 after buying an additional 45,480 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in Regions Financial Corporation during the first quarter worth $153,000. Institutional investors own 76.41% of the company’s stock.
Regions Financial Corporation Company Profile
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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