FY2019 Earnings Estimate for Regions Financial Corp (RF) Issued By B. Riley
Regions Financial Corp (NYSE:RF) – Research analysts at B. Riley upped their FY2019 earnings estimates for shares of Regions Financial in a report issued on Thursday. B. Riley analyst S. Moss now anticipates that the bank will post earnings per share of $1.50 for the year, up from their prior forecast of $1.24.
RF has been the topic of a number of other reports. ValuEngine cut Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies reissued a “hold” rating and set a $17.00 price target on shares of Regions Financial in a report on Tuesday, January 9th. Robert W. Baird reissued a “sell” rating and set a $17.00 price target on shares of Regions Financial in a report on Wednesday, January 3rd. Barclays raised their price target on Regions Financial from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Finally, Wedbush raised Regions Financial from a “neutral” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Thursday, December 21st. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.65.
Regions Financial (NYSE:RF) last released its earnings results on Tuesday, October 24th. The bank reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. Regions Financial’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were issued a $0.09 dividend. The ex-dividend date was Thursday, December 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.98%. Regions Financial’s dividend payout ratio (DPR) is 37.89%.
In other news, EVP Scott M. Peters sold 25,000 shares of Regions Financial stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $15.84, for a total value of $396,000.00. Following the sale, the executive vice president now directly owns 121,459 shares of the company’s stock, valued at $1,923,910.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John B. Owen sold 40,000 shares of Regions Financial stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total value of $626,800.00. The disclosure for this sale can be found here. Insiders sold 80,000 shares of company stock worth $1,278,400 over the last ninety days. Insiders own 0.52% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Salem Investment Counselors Inc. grew its position in Regions Financial by 0.3% in the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after acquiring an additional 26 shares in the last quarter. Sentry Investment Management LLC grew its position in Regions Financial by 0.7% in the second quarter. Sentry Investment Management LLC now owns 53,166 shares of the bank’s stock worth $778,000 after acquiring an additional 345 shares in the last quarter. Moors & Cabot Inc. grew its position in Regions Financial by 1.8% in the second quarter. Moors & Cabot Inc. now owns 38,785 shares of the bank’s stock worth $567,000 after acquiring an additional 702 shares in the last quarter. Woodmont Investment Counsel LLC grew its position in Regions Financial by 8.3% in the second quarter. Woodmont Investment Counsel LLC now owns 11,724 shares of the bank’s stock worth $172,000 after acquiring an additional 894 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its position in Regions Financial by 3.0% in the second quarter. Thrivent Financial For Lutherans now owns 45,537 shares of the bank’s stock worth $667,000 after acquiring an additional 1,310 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.
About Regions Financial
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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