DA Davidson Lifts Earnings Estimates for Regions Financial

Regions Financial Co. (NYSE:RF) – DA Davidson lifted their FY2024 earnings estimates for Regions Financial in a research report issued on Monday, October 21st. DA Davidson analyst P. Winter now anticipates that the bank will post earnings of $2.10 per share for the year, up from their previous forecast of $2.06. DA Davidson has a “Buy” rating and a $29.00 price objective on the stock. The consensus estimate for Regions Financial’s current full-year earnings is $2.02 per share. DA Davidson also issued estimates for Regions Financial’s Q4 2024 earnings at $0.56 EPS and FY2025 earnings at $2.29 EPS.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. Regions Financial’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS.

RF has been the subject of several other reports. Wedbush upped their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group upped their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Bank of America lifted their target price on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Barclays increased their price target on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Monday. Finally, Keefe, Bruyette & Woods dropped their price objective on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $23.64.

Regions Financial Price Performance

Shares of NYSE:RF opened at $23.64 on Tuesday. The company has a market capitalization of $21.65 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17. The company has a 50 day moving average of $22.81 and a two-hundred day moving average of $20.96. Regions Financial has a 52-week low of $13.72 and a 52-week high of $24.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33.

Hedge Funds Weigh In On Regions Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cincinnati Insurance Co. bought a new position in shares of Regions Financial during the first quarter worth about $74,606,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Regions Financial during the 1st quarter valued at about $33,829,000. Allspring Global Investments Holdings LLC increased its stake in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after purchasing an additional 1,014,706 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after buying an additional 979,597 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Regions Financial during the first quarter worth approximately $19,322,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.23%. Regions Financial’s payout ratio is currently 54.35%.

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.