$1.45 Billion in Sales Expected for Regions Financial Corp (RF) This Quarter
Analysts forecast that Regions Financial Corp (NYSE:RF) will post sales of $1.45 billion for the current quarter, Zacks reports. Twenty Three analysts have provided estimates for Regions Financial’s earnings, with the highest sales estimate coming in at $1.47 billion and the lowest estimate coming in at $1.41 billion. Regions Financial reported sales of $1.38 billion in the same quarter last year, which would suggest a positive year over year growth rate of 5.1%. The firm is expected to report its next quarterly earnings report before the market opens on Friday, January 19th.
According to Zacks, analysts expect that Regions Financial will report full year sales of $1.45 billion for the current year, with estimates ranging from $5.60 billion to $5.78 billion. For the next financial year, analysts forecast that the firm will post sales of $5.91 billion per share, with estimates ranging from $5.79 billion to $6.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Regions Financial.
Regions Financial (NYSE:RF) last released its earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a net margin of 20.14% and a return on equity of 7.56%. Regions Financial’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 EPS.
Shares of Regions Financial (NYSE:RF) traded up $0.08 during mid-day trading on Thursday, reaching $18.28. 7,141,449 shares of the company’s stock were exchanged, compared to its average volume of 8,056,187. The company has a market cap of $21,204.27, a price-to-earnings ratio of 19.04, a PEG ratio of 1.06 and a beta of 1.30. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.39. Regions Financial has a fifty-two week low of $13.00 and a fifty-two week high of $18.37.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were paid a $0.09 dividend. The ex-dividend date was Thursday, December 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.97%. Regions Financial’s payout ratio is 37.50%.
In related news, EVP John B. Owen sold 40,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $15.67, for a total value of $626,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John E. D. D. S. Maupin, Jr. sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $17.04, for a total transaction of $255,600.00. Following the completion of the transaction, the director now directly owns 59,436 shares in the company, valued at $1,012,789.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,000 shares of company stock valued at $1,278,400. Company insiders own 0.52% of the company’s stock.
Large investors have recently modified their holdings of the stock. Seven Eight Capital LP purchased a new position in shares of Regions Financial in the 2nd quarter worth about $111,000. Sun Life Financial INC boosted its holdings in shares of Regions Financial by 98,133.3% in the 2nd quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock worth $129,000 after buying an additional 8,832 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in shares of Regions Financial by 0.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after buying an additional 26 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Regions Financial in the 2nd quarter worth about $139,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Regions Financial in the 3rd quarter worth about $150,000. 75.25% of the stock is currently owned by institutional investors.
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Regions Financial 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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