Regions Financial (NYSE:RF) Releases Earnings Results, Misses Estimates By $0.08 EPS

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

Regions Financial Trading Down 0.5 %

Shares of NYSE:RF opened at $18.90 on Monday. Regions Financial has a 12-month low of $13.72 and a 12-month high of $21.08. The company has a market capitalization of $17.37 billion, a PE ratio of 10.27, a PEG ratio of 1.37 and a beta of 1.21. The business has a 50 day moving average of $19.32 and a two-hundred day moving average of $18.01. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s payout ratio is presently 52.17%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Regions Financial in the fourth quarter valued at approximately $201,607,000. First Trust Advisors LP increased its position in shares of Regions Financial by 296.5% in the first quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock valued at $234,902,000 after buying an additional 7,891,037 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Regions Financial by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Regions Financial during the second quarter worth approximately $53,327,000. Finally, Morgan Stanley increased its position in shares of Regions Financial by 16.1% during the fourth quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock worth $435,275,000 after purchasing an additional 2,802,291 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RF. Stephens reiterated an “equal weight” rating and set a $21.00 target price on shares of Regions Financial in a research report on Tuesday, January 23rd. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Barclays restated an “underweight” rating and issued a $22.00 price target (up from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Finally, Truist Financial raised their price target on Regions Financial from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, April 1st. Two 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’s stock. According to data from MarketBeat, 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.