DA Davidson Comments on Regions Financial Co.’s Q2 2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Regions Financial in a research note issued on Monday, April 22nd. DA Davidson analyst P. Winter expects that the bank will post earnings of $0.48 per share for the quarter. The consensus estimate for Regions Financial’s current full-year earnings is $1.97 per share. DA Davidson also issued estimates for Regions Financial’s FY2025 earnings at $2.19 EPS.

RF has been the topic of a number of other reports. Argus lowered Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Morgan Stanley reduced their target price on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday. Stephens reaffirmed an “equal weight” rating and issued a $21.00 price target on shares of Regions Financial in a report on Tuesday, January 23rd. Barclays reaffirmed an “underweight” rating and set a $22.00 price target (up from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Finally, Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $22.00 in a report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial currently has an average rating of “Hold” and an average price target of $20.17.

Regions Financial Stock Performance

Shares of RF stock opened at $19.19 on Tuesday. The business has a fifty day moving average of $19.33 and a 200 day moving average of $18.03. Regions Financial has a 1 year low of $13.72 and a 1 year high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $17.63 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

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

Hedge Funds Weigh In On Regions Financial

Large investors have recently added to or reduced their stakes in the stock. Confluence Wealth Services Inc. increased its stake in shares of Regions Financial by 7.2% during the first quarter. Confluence Wealth Services Inc. now owns 39,375 shares of the bank’s stock worth $828,000 after purchasing an additional 2,635 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in Regions Financial by 17.6% in the 1st quarter. Oakworth Capital Inc. now owns 228,728 shares of the bank’s stock worth $4,812,000 after buying an additional 34,314 shares during the last quarter. New Perspectives Inc purchased a new stake in Regions Financial during the 1st quarter worth approximately $226,000. Lakewood Asset Management LLC raised its holdings in shares of Regions Financial by 1.4% during the first quarter. Lakewood Asset Management LLC now owns 80,261 shares of the bank’s stock valued at $1,689,000 after acquiring an additional 1,108 shares during the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new position in shares of Regions Financial in the first quarter valued at approximately $204,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.00%. The ex-dividend date is Friday, May 31st. Regions Financial’s payout ratio is presently 52.17%.

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.