Equities Analysts Offer Predictions for Regions Financial Co.’s FY2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Equities researchers at DA Davidson lowered their FY2024 earnings per share (EPS) estimates for shares of Regions Financial in a research report issued on Monday, April 22nd. DA Davidson analyst P. Winter now expects that the bank will post earnings of $1.97 per share for the year, down from their prior forecast of $2.00. The consensus estimate for Regions Financial’s current full-year earnings is $1.95 per share.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and raised their price target for the company from $15.00 to $22.00 in a report on Tuesday, January 9th. Morgan Stanley lowered their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday. Argus lowered Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Barclays reaffirmed an “underweight” rating and issued a $22.00 price objective (up from $20.00) on shares of Regions Financial in a research note on Tuesday, January 2nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $21.00 price objective on shares of Regions Financial in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.17.

Regions Financial Stock Down 0.8 %

RF stock opened at $19.61 on Wednesday. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The business’s 50-day moving average is $19.41 and its two-hundred day moving average is $18.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market cap of $18.02 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 1.42 and a beta of 1.21.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The company’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.90%. Regions Financial’s dividend payout ratio is presently 52.17%.

Insider Activity

In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of Regions Financial stock in a transaction that occurred on Tuesday, April 23rd. The shares were bought at an average cost of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. increased its holdings in shares of Regions Financial by 16.5% in the fourth quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock valued at $75,000 after purchasing an additional 549 shares during the period. CWM LLC increased its holdings in shares of Regions Financial by 1.4% in the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after purchasing an additional 556 shares during the period. Signet Financial Management LLC increased its holdings in shares of Regions Financial by 4.9% in the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after purchasing an additional 584 shares during the period. Pinnacle Financial Partners Inc increased its holdings in shares of Regions Financial by 0.4% in the fourth quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank’s stock valued at $2,797,000 after purchasing an additional 606 shares during the period. Finally, MV Capital Management Inc. increased its holdings in shares of Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

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.