Regions Financial (RF) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Regions Financial (NYSE:RF) issued its quarterly earnings results on Friday. The bank reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01, RTT News reports. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the firm posted $0.23 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year.
Regions Financial (NYSE:RF) traded up $0.52 during trading hours on Friday, reaching $18.67. The company had a trading volume of 15,179,287 shares, compared to its average volume of 6,869,356. The firm has a market cap of $21,656.66, a PE ratio of 18.67, a P/E/G ratio of 1.08 and a beta of 1.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.84 and a current ratio of 0.85. Regions Financial has a 1-year low of $13.00 and a 1-year high of $18.70.
Several research analysts recently commented on RF shares. Robert W. Baird cut Regions Financial from a “neutral” rating to an “underperform” rating and set a $13.00 price target for the company. in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $15.00 price target on shares of Regions Financial in a research report on Tuesday, October 3rd. Citigroup reaffirmed a “neutral” rating and issued a $16.00 price objective (up from $15.00) on shares of Regions Financial in a research report on Monday, October 9th. FBR & Co cut Regions Financial from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Tuesday, October 10th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Regions Financial in a research report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $16.70.
A number of large investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LP bought a new position in Regions Financial during the 2nd quarter worth $111,000. Sun Life Financial INC increased its stake in Regions Financial by 98,133.3% during the 2nd quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock worth $129,000 after acquiring an additional 8,832 shares during the period. Salem Investment Counselors Inc. increased its stake in Regions Financial by 0.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after acquiring an additional 26 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Regions Financial during the 3rd quarter worth $150,000. Finally, Pax World Management LLC bought a new position in Regions Financial during the 3rd quarter worth $154,000. 75.27% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “Regions Financial (RF) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS” was published by Daily Political and is the property of of Daily Political. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://www.dailypolitical.com/2018/01/21/regions-financial-rf-announces-quarterly-earnings-results-beats-estimates-by-0-01-eps.html.
Regions Financial Company Profile
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.
Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.