Wedbush Weighs in on Regions Financial Co.’s Q1 2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Stock analysts at Wedbush dropped their Q1 2024 earnings per share (EPS) estimates for Regions Financial in a research report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings per share of $0.47 for the quarter, down from their prior estimate of $0.49. The consensus estimate for Regions Financial’s current full-year earnings is $1.98 per share. Wedbush also issued estimates for Regions Financial’s Q2 2024 earnings at $0.48 EPS, Q3 2024 earnings at $0.54 EPS, Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $2.05 EPS and FY2025 earnings at $2.25 EPS.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.09). Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $0.67 EPS. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year.

RF has been the topic of a number of other research reports. Argus lowered Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Royal Bank of Canada lifted their target price on Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Keefe, Bruyette & Woods boosted their target price on Regions Financial from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Monday, January 22nd. Truist Financial increased their price target on Regions Financial from $15.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, December 15th. Finally, Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.28.

Regions Financial Stock Up 1.7 %

Shares of Regions Financial stock opened at $21.04 on Friday. The stock has a 50-day moving average price of $18.94 and a 200 day moving average price of $17.73. The company has a market cap of $19.33 billion, a P/E ratio of 10.07, a P/E/G ratio of 1.49 and a beta of 1.19. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. Regions Financial has a 1 year low of $13.72 and a 1 year high of $21.08.

Institutional Investors Weigh In On Regions Financial

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares during the period. Wellington Management Group LLP boosted its stake in shares of Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after acquiring an additional 1,951,026 shares during the last quarter. State Street Corp boosted its stake in shares of 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 last quarter. Morgan Stanley boosted its stake in shares of Regions Financial by 16.1% during the 4th quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock worth $435,275,000 after acquiring an additional 2,802,291 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock worth $346,922,000 after acquiring an additional 618,384 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Thursday, February 29th. Regions Financial’s dividend payout ratio (DPR) is presently 45.93%.

About Regions Financial

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.