Regions Financial (NYSE:RF) Announces Earnings Results

Regions Financial (NYSE:RF) issued its quarterly earnings results on Friday. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08), RTT News reports. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share.

Regions Financial Trading Down 1.3 %

NYSE RF opened at $18.75 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $19.30 and a 200-day moving average of $17.97. Regions Financial has a 12 month low of $13.72 and a 12 month high of $21.08. The company has a market cap of $17.23 billion, a PE ratio of 9.09, a PEG ratio of 1.36 and a beta of 1.21.

Regions Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RF. Jefferies Financial Group raised shares of Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $15.00 to $22.00 in a report on Tuesday, January 9th. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Argus cut Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Truist Financial boosted their target price on shares of Regions Financial from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Two investment 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. According to MarketBeat.com, Regions Financial currently has an average rating of “Hold” and a consensus price target of $20.39.

Institutional Trading of Regions Financial

Several institutional investors and hedge funds have recently bought and sold shares of RF. Vanguard Group Inc. raised its holdings in Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after acquiring an additional 3,119,237 shares during the period. State Street Corp increased its stake in Regions Financial by 0.4% during the 1st quarter. State Street Corp now owns 50,312,924 shares of the bank’s stock worth $943,529,000 after acquiring an additional 189,323 shares during the period. Morgan Stanley raised its holdings in Regions Financial by 16.1% in the 4th quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock valued at $435,275,000 after acquiring an additional 2,802,291 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Regions Financial by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 19,884,039 shares of the bank’s stock valued at $368,222,000 after acquiring an additional 275,489 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Regions Financial by 3.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 16,271,811 shares of the bank’s stock worth $362,211,000 after purchasing an additional 536,935 shares during the period. 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.