Regions Financial (NYSE:RF) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Regions Financial (NYSE:RF) released its quarterly earnings data 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share.

Regions Financial Stock Down 0.5 %

Shares of NYSE RF opened at $18.91 on Friday. Regions Financial has a 1 year low of $13.72 and a 1 year high of $21.08. The firm’s 50-day moving average is $19.32 and its 200-day moving average is $17.99. 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 firm has a market capitalization of $17.38 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 5.08%. Regions Financial’s payout ratio is presently 45.93%.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in Regions Financial in the fourth quarter valued at about $201,607,000. First Trust Advisors LP increased its stake in shares of Regions Financial by 296.5% in the 1st quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock valued at $234,902,000 after acquiring an additional 7,891,037 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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. Holocene Advisors LP acquired a new stake in shares of Regions Financial in the 2nd quarter valued at approximately $53,327,000. Finally, Morgan Stanley boosted its stake in 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. 79.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Regions Financial from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, April 1st. Morgan Stanley upped their price objective on shares of Regions Financial from $21.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Jefferies Financial Group upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $15.00 to $22.00 in a research note on Tuesday, January 9th. Argus lowered Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Barclays reiterated an “underweight” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.39.

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.