Regions Financial (NYSE:RF) Releases Earnings Results, Misses Expectations By $0.08 EPS

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

Regions Financial Price Performance

NYSE RF opened at $18.90 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s fifty day moving average price is $19.32 and its 200 day moving average price is $18.00. Regions Financial has a 1 year low of $13.72 and a 1 year high of $21.08. The company 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 Dividend Announcement

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

Hedge Funds Weigh In On Regions Financial

Several hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Regions Financial during the 4th quarter worth about $201,607,000. First Trust Advisors LP grew its position in Regions Financial by 296.5% during the 1st quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock worth $234,902,000 after purchasing an additional 7,891,037 shares during the period. Vanguard Group Inc. grew its position in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares during the period. Holocene Advisors LP acquired a new stake in Regions Financial during the 2nd quarter worth about $53,327,000. Finally, Morgan Stanley grew its position in Regions Financial by 16.1% during the 4th quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock worth $435,275,000 after purchasing an additional 2,802,291 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com lowered Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Keefe, Bruyette & Woods upped 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. Evercore ISI upped their target price on Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Truist Financial upped their target price on Regions Financial from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, April 1st. Finally, Morgan Stanley upped their target price on Regions Financial from $21.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.