Regions Financial Co. Forecasted to Earn Q3 2024 Earnings of $0.52 Per Share (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Wedbush decreased their Q3 2024 earnings per share estimates for Regions Financial in a report released on Friday, April 19th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings per share of $0.52 for the quarter, down from their prior estimate of $0.54. The consensus estimate for Regions Financial’s current full-year earnings is $1.97 per share. Wedbush also issued estimates for Regions Financial’s Q4 2024 earnings at $0.53 EPS, FY2024 earnings at $1.91 EPS and Q1 2025 earnings at $0.53 EPS.

A number of other research analysts also recently commented on the company. Keefe, Bruyette & Woods increased their price target on Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Stephens reissued an “equal weight” rating and issued a $21.00 price target on shares of Regions Financial in a report on Tuesday, January 23rd. Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $15.00 to $22.00 in a report on Tuesday, January 9th. Barclays reissued an “underweight” rating and issued a $22.00 price target (up previously from $20.00) on shares of Regions Financial in a report on Tuesday, January 2nd. Finally, Truist Financial reduced their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.17.

Regions Financial Trading Up 1.5 %

Shares of RF opened at $19.19 on Monday. The company has a market capitalization of $17.63 billion, a P/E ratio of 10.43, a P/E/G ratio of 1.37 and a beta of 1.21. Regions Financial has a one year low of $13.72 and a one year high of $21.08. 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 stock has a 50-day moving average price of $19.33 and a 200 day moving average price of $18.03.

Regions Financial (NYSE:RF) last posted its 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). The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. Regions Financial’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS.

Institutional Trading of Regions Financial

Several hedge funds have recently made changes to their positions in RF. Moisand Fitzgerald Tamayo LLC acquired a new stake in Regions Financial in the 3rd quarter valued at approximately $26,000. Laurel Wealth Advisors LLC increased its position in Regions Financial by 86.5% in the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after acquiring an additional 649 shares during the period. ICA Group Wealth Management LLC acquired a new stake in Regions Financial in the 4th quarter valued at approximately $28,000. Sound Income Strategies LLC increased its position in Regions Financial by 103.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after acquiring an additional 750 shares during the period. Finally, Glassman Wealth Services increased its position in Regions Financial by 163.3% in the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after acquiring an additional 967 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Announces Dividend

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 dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

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.