Equities Analysts Offer Predictions for RF FY2024 Earnings

Regions Financial Co. (NYSE:RF) – Research analysts at DA Davidson lowered their FY2024 earnings per share estimates for Regions Financial in a note issued to investors on Thursday, December 19th. DA Davidson analyst P. Winter now forecasts that the bank will post earnings of $2.08 per share for the year, down from their previous estimate of $2.10. DA Davidson currently has a “Buy” rating and a $29.00 target price on the stock. The consensus estimate for Regions Financial’s current full-year earnings is $2.12 per share. DA Davidson also issued estimates for Regions Financial’s FY2025 earnings at $2.28 EPS.

A number of other research analysts have also commented on RF. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. Piper Sandler lifted their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Wells Fargo & Company increased their price target on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group upped their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Regions Financial currently has an average rating of “Moderate Buy” and an average target price of $27.61.

Regions Financial Price Performance

RF stock opened at $23.77 on Monday. The firm has a 50 day moving average of $25.20 and a 200-day moving average of $22.74. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $21.60 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 2.64 and a beta of 1.19. Regions Financial has a 12 month low of $17.42 and a 12 month high of $27.96.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm earned $0.49 EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year.

Institutional Trading of Regions Financial

Several large investors have recently modified their holdings of the business. Quarry LP increased its position in Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after purchasing an additional 394 shares during the period. Private Advisor Group LLC raised its stake in Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock worth $581,000 after buying an additional 429 shares in the last quarter. CWM LLC lifted its holdings in Regions Financial by 1.1% in the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock worth $988,000 after buying an additional 480 shares during the period. Resonant Capital Advisors LLC boosted its position in Regions Financial by 2.4% during the 3rd quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after acquiring an additional 506 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its position in Regions Financial by 5.9% during the 3rd quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank’s stock valued at $228,000 after acquiring an additional 540 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

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.