Regions Financial Co. (NYSE:RF) Forecasted to Post Q1 2024 Earnings of $0.47 Per Share

Regions Financial Co. (NYSE:RF) – Equities research analysts at Wedbush lowered their Q1 2024 earnings estimates for shares of Regions Financial in a report released on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $0.47 per share for the quarter, down from their prior estimate of $0.49. The consensus estimate for Regions Financial’s current full-year earnings is $1.98 per share. Wedbush also issued estimates for Regions Financial’s Q2 2024 earnings at $0.48 EPS, Q3 2024 earnings at $0.54 EPS, Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $2.05 EPS and FY2025 earnings at $2.25 EPS.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods boosted their target price on Regions Financial from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, January 22nd. Argus downgraded Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Stephens restated an “equal weight” rating and set a $21.00 price target on shares of Regions Financial in a research note on Tuesday, January 23rd. Finally, Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $15.00 to $22.00 in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.28.

Regions Financial Price Performance

Shares of NYSE:RF opened at $21.04 on Friday. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The business has a 50-day simple moving average of $18.94 and a two-hundred day simple moving average of $17.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $19.33 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.09). Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm earned $0.67 EPS. Regions Financial’s revenue for the quarter was down 9.5% compared to the same quarter last year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 4.56%. Regions Financial’s payout ratio is presently 45.93%.

Institutional Trading of Regions Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Moisand Fitzgerald Tamayo LLC purchased a new stake in Regions Financial during the 3rd quarter valued at $26,000. Dark Forest Capital Management LP purchased a new stake in Regions Financial during the 1st quarter valued at $26,000. Laurel Wealth Advisors LLC raised its holdings in Regions Financial by 86.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after buying an additional 649 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Regions Financial during the 4th quarter valued at $28,000. Finally, Sound Income Strategies LLC raised its holdings in Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after buying an additional 750 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Company Profile

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.