Brokerages Expect Regions Financial Co. (NYSE:RF) Will Post Earnings of $0.53 Per Share

Analysts expect Regions Financial Co. (NYSE:RF) to post earnings per share (EPS) of $0.53 for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Regions Financial’s earnings, with estimates ranging from $0.47 to $0.57. Regions Financial reported earnings per share of $0.49 during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.2%. The company is expected to issue its next quarterly earnings report before the market opens on Friday, October 22nd.

According to Zacks, analysts expect that Regions Financial will report full year earnings of $2.43 per share for the current financial year, with EPS estimates ranging from $2.36 to $2.54. For the next financial year, analysts expect that the business will post earnings of $2.04 per share, with EPS estimates ranging from $1.88 to $2.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Regions Financial.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, July 22nd. The bank reported $0.77 EPS for the quarter, beating the consensus estimate of $0.53 by $0.24. Regions Financial had a net margin of 38.28% and a return on equity of 15.63%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the business earned ($0.25) earnings per share.

A number of brokerages have weighed in on RF. Keefe, Bruyette & Woods downgraded shares of Regions Financial from an “outperform” rating to an “underperform” rating and set a $18.00 price target for the company. in a report on Wednesday, July 7th. Morgan Stanley restated an “overweight” rating and issued a $19.29 price objective (down previously from $24.00) on shares of Regions Financial in a research report on Monday, July 26th. Stephens lowered shares of Regions Financial from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $23.00 to $22.00 in a research note on Wednesday, September 8th. Citigroup initiated coverage on shares of Regions Financial in a research note on Friday, July 16th. They set a “hold” rating and a $19.29 price objective on the stock. Finally, Raymond James lowered shares of Regions Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus target price of $20.84.

Regions Financial stock traded up $0.40 during trading hours on Thursday, hitting $22.13. The company had a trading volume of 320,039 shares, compared to its average volume of 8,008,077. The firm’s fifty day moving average is $20.48 and its 200-day moving average is $20.83. Regions Financial has a fifty-two week low of $12.10 and a fifty-two week high of $23.81. The firm has a market capitalization of $21.12 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 1.15 and a beta of 1.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.82.

The company also recently announced a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Friday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.07%. This is an increase from Regions Financial’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, September 2nd. Regions Financial’s payout ratio is presently 65.38%.

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Regions Financial by 0.4% in the second quarter. Vanguard Group Inc. now owns 114,103,576 shares of the bank’s stock valued at $2,302,610,000 after purchasing an additional 432,973 shares during the last quarter. BlackRock Inc. boosted its position in shares of Regions Financial by 3.6% in the second quarter. BlackRock Inc. now owns 85,706,242 shares of the bank’s stock valued at $1,729,552,000 after acquiring an additional 2,994,515 shares during the period. State Street Corp boosted its position in shares of Regions Financial by 2.5% in the second quarter. State Street Corp now owns 64,275,594 shares of the bank’s stock valued at $1,307,274,000 after acquiring an additional 1,545,729 shares during the period. Geode Capital Management LLC boosted its position in shares of Regions Financial by 4.0% in the second quarter. Geode Capital Management LLC now owns 18,824,005 shares of the bank’s stock valued at $379,009,000 after acquiring an additional 721,089 shares during the period. Finally, LSV Asset Management boosted its position in shares of Regions Financial by 1.1% in the second quarter. LSV Asset Management now owns 18,537,234 shares of the bank’s stock valued at $374,081,000 after acquiring an additional 198,325 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

About Regions Financial

Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, and Wealth Management.

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