Regions Financial Co. Forecasted to Post FY2024 Earnings of $2.02 Per Share (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Stock analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for shares of Regions Financial in a research report issued to clients and investors on Wednesday, October 9th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $2.02 for the year, up from their prior estimate of $1.90. Wedbush has a “Outperform” rating and a $28.00 price objective on the stock. The consensus estimate for Regions Financial’s current full-year earnings is $2.02 per share.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS.

RF has been the topic of several other research reports. Bank of America lifted their price objective on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Evercore ISI increased their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods dropped their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Jefferies Financial Group lifted their target price on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company upped their price target on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.86.

Regions Financial Stock Up 2.8 %

RF stock opened at $23.69 on Friday. Regions Financial has a 52-week low of $13.72 and a 52-week high of $23.82. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $21.70 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17. The company has a 50-day moving average of $22.32 and a two-hundred day moving average of $20.77.

Hedge Funds Weigh In On Regions Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its position in shares of Regions Financial by 1.1% during the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock worth $988,000 after acquiring an additional 480 shares during the last quarter. IFG Advisory LLC grew its stake in Regions Financial by 1.8% in the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock valued at $620,000 after purchasing an additional 546 shares during the period. HB Wealth Management LLC increased its holdings in Regions Financial by 0.6% during the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after buying an additional 551 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Regions Financial by 2.8% in the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock worth $433,000 after purchasing an additional 565 shares during the period. Finally, Signet Financial Management LLC lifted its position in shares of Regions Financial by 4.9% during the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after buying an additional 584 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.22%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. Regions Financial’s payout ratio is presently 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.