Q2 2024 EPS Estimates for Regions Financial Co. (NYSE:RF) Increased by Analyst

Regions Financial Co. (NYSE:RF) – Analysts at DA Davidson boosted their Q2 2024 EPS estimates for shares of Regions Financial in a research report issued to clients and investors on Thursday, June 27th. DA Davidson analyst P. Winter now forecasts that the bank will post earnings of $0.50 per share for the quarter, up from their previous forecast of $0.48. The consensus estimate for Regions Financial’s current full-year earnings is $1.96 per share.

A number of other analysts also recently commented on the stock. Truist Financial dropped their target price on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $20.00 to $23.00 in a report on Monday, March 18th. Morgan Stanley reduced 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, April 22nd. Finally, Evercore ISI lowered their target price on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Regions Financial presently has an average rating of “Hold” and a consensus target price of $20.28.

Regions Financial Price Performance

Shares of NYSE RF opened at $19.90 on Monday. Regions Financial has a 1-year low of $13.72 and a 1-year high of $21.08. The firm has a market capitalization of $18.23 billion, a PE ratio of 10.82, a P/E/G ratio of 2.19 and a beta of 1.18. The business’s fifty day moving average price is $19.30 and its two-hundred day moving average price is $19.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82.

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

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 4.82%. Regions Financial’s payout ratio is 52.17%.

Insider Activity at Regions Financial

In related news, Director William C. Rhodes III bought 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the purchase, the director now owns 50,000 shares in the company, valued at $968,500. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, Director William C. Rhodes III acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP William D. Ritter sold 23,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RF. Vanguard Group Inc. boosted its stake 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 worth $2,281,118,000 after acquiring an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after buying an additional 1,951,026 shares during the last quarter. Norges Bank acquired a new position in shares of Regions Financial in the 4th quarter valued at $210,379,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Regions Financial by 1.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock valued at $162,163,000 after purchasing an additional 103,529 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Regions Financial by 0.8% in the third quarter. Ameriprise Financial Inc. now owns 5,541,154 shares of the bank’s stock valued at $95,371,000 after purchasing an additional 44,882 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

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.