Regions Financial (RF) Announces Earnings Results
Regions Financial (NYSE:RF) issued its quarterly earnings data on Friday. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01, RTT News reports. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share.
Regions Financial (NYSE:RF) traded up $0.52 on Friday, reaching $18.67. The company’s stock had a trading volume of 15,179,287 shares, compared to its average volume of 6,869,356. The firm has a market capitalization of $21,656.66, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.85 and a quick ratio of 0.84. Regions Financial has a 12-month low of $13.00 and a 12-month high of $18.70.
RF has been the subject of several analyst reports. Barclays boosted their price objective on Regions Financial from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Robert W. Baird downgraded Regions Financial from a “neutral” rating to an “underperform” rating and set a $13.00 price objective for the company. in a research report on Monday, October 2nd. FBR & Co reiterated a “hold” rating and set a $16.00 price objective on shares of Regions Financial in a research report on Wednesday, October 25th. SunTrust Banks reiterated a “buy” rating and set a $19.00 price objective on shares of Regions Financial in a research report on Wednesday, November 29th. Finally, UBS Group upgraded Regions Financial from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $15.00 to $18.00 in a research report on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.70.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Seven Eight Capital LP bought a new position in shares of Regions Financial in the second quarter valued at $111,000. Sun Life Financial INC increased its holdings in shares of Regions Financial by 98,133.3% in the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock valued at $129,000 after buying an additional 8,832 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Regions Financial by 0.3% in the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after buying an additional 26 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Regions Financial in the third quarter valued at $150,000. Finally, Pax World Management LLC bought a new position in shares of Regions Financial in the third quarter valued at $154,000. 75.27% of the stock is currently owned by institutional investors.
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About Regions Financial
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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