$0.40 EPS Expected for Regions Financial Corp (NYSE:RF) This Quarter
Wall Street brokerages expect that Regions Financial Corp (NYSE:RF) will report earnings per share (EPS) of $0.40 for the current fiscal quarter, according to Zacks Investment Research. Twenty Four analysts have provided estimates for Regions Financial’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.44. Regions Financial posted earnings per share of $0.32 during the same quarter last year, which would indicate a positive year-over-year growth rate of 25%. The business is expected to announce its next earnings report on Friday, July 19th.
According to Zacks, analysts expect that Regions Financial will report full-year earnings of $1.56 per share for the current fiscal year, with EPS estimates ranging from $1.50 to $1.63. For the next year, analysts forecast that the firm will report earnings of $1.67 per share, with EPS estimates ranging from $1.58 to $1.78. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Regions Financial.
Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.49 billion. Regions Financial had a return on equity of 10.76% and a net margin of 26.38%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS.
In other Regions Financial news, EVP Scott M. Peters sold 30,877 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $15.19, for a total transaction of $469,021.63. Following the completion of the transaction, the executive vice president now owns 50,486 shares in the company, valued at $766,882.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John B. Owen sold 61,756 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $15.25, for a total value of $941,779.00. Following the transaction, the chief operating officer now owns 127,152 shares of the company’s stock, valued at approximately $1,939,068. The disclosure for this sale can be found here. Insiders have sold 123,510 shares of company stock worth $1,889,394 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Buffington Mohr McNeal purchased a new position in Regions Financial during the first quarter valued at $28,000. FinTrust Capital Advisors LLC raised its stake in Regions Financial by 28.0% during the first quarter. FinTrust Capital Advisors LLC now owns 4,173 shares of the bank’s stock valued at $59,000 after buying an additional 913 shares during the last quarter. Mizuho Securities Co. Ltd. raised its stake in Regions Financial by 176.5% during the first quarter. Mizuho Securities Co. Ltd. now owns 4,700 shares of the bank’s stock valued at $67,000 after buying an additional 3,000 shares during the last quarter. Thor Advisors LLC purchased a new position in Regions Financial during the first quarter valued at $72,000. Finally, North Star Investment Management Corp. raised its stake in Regions Financial by 1,035.3% during the first quarter. North Star Investment Management Corp. now owns 5,790 shares of the bank’s stock valued at $82,000 after buying an additional 5,280 shares during the last quarter. Institutional investors and hedge funds own 71.37% of the company’s stock.
Shares of RF stock traded up $0.34 during trading hours on Monday, reaching $15.13. The company’s stock had a trading volume of 20,534,297 shares, compared to its average volume of 9,650,274. The company has a market capitalization of $14.99 billion, a PE ratio of 11.13, a P/E/G ratio of 1.63 and a beta of 1.50. Regions Financial has a one year low of $12.39 and a one year high of $19.99. The business’s fifty day moving average is $14.65. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.90.
Regions Financial announced that its board has authorized a stock buyback plan on Thursday, June 27th that permits the company to buyback $1.37 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.56 annualized dividend and a dividend yield of 3.70%. Regions Financial’s dividend payout ratio is presently 41.18%.
About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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