Regions Financial (NYSE:RF) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Regions Financial (NYSE:RF) issued its earnings results on Friday. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08), RTT News reports. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 earnings per share.

Regions Financial Stock Down 0.5 %

Shares of NYSE RF opened at $18.90 on Friday. Regions Financial has a 52-week low of $13.72 and a 52-week high of $21.08. The business’s 50 day moving average is $19.32 and its two-hundred day moving average is $18.00. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The firm has a market cap of $17.37 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.36 and a beta of 1.21.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s payout ratio is 52.17%.

Institutional Trading of Regions Financial

Several hedge funds have recently modified their holdings of RF. Dark Forest Capital Management LP acquired a new stake in shares of Regions Financial in the first quarter valued at $26,000. Clear Street Markets LLC acquired a new stake in shares of Regions Financial in the fourth quarter valued at $33,000. Harbour Investments Inc. raised its stake in shares of Regions Financial by 715.1% in the fourth quarter. Harbour Investments Inc. now owns 1,891 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,659 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of Regions Financial in the fourth quarter valued at $49,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Regions Financial in the fourth quarter valued at $53,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RF. Keefe, Bruyette & Woods boosted their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Citigroup raised shares of Regions Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. StockNews.com lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Evercore ISI lifted their price target on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Finally, Truist Financial lifted their price target on shares of Regions Financial from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.39.

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.