Equities Analysts Offer Predictions for Regions Financial Co.’s FY2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Equities research analysts at DA Davidson decreased their FY2024 earnings estimates for Regions Financial in a research note issued on Monday, April 22nd. DA Davidson analyst P. Winter now forecasts that the bank will earn $1.97 per share for the year, down from their previous forecast of $2.00. The consensus estimate for Regions Financial’s current full-year earnings is $1.95 per share.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the company earned $0.62 earnings per share. Regions Financial’s revenue for the quarter was down 10.5% compared to the same quarter last year.

Several other research firms also recently commented on RF. StockNews.com downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Royal Bank of Canada upped their price target on shares of Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Morgan Stanley reduced their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial reduced their price objective on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Argus downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average price target of $20.17.

Regions Financial Trading Down 0.8 %

RF stock opened at $19.61 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The company’s 50-day simple moving average is $19.41 and its 200 day simple moving average is $18.07. Regions Financial has a 52 week low of $13.72 and a 52 week high of $21.08. The company has a market capitalization of $18.02 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.90%. Regions Financial’s payout ratio is currently 52.17%.

Insider Activity

In other Regions Financial news, Director William C. Rhodes III acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Moisand Fitzgerald Tamayo LLC bought a new position in Regions Financial during the 3rd quarter worth approximately $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 worth $27,000 after purchasing an additional 649 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Regions Financial during the 4th quarter worth approximately $28,000. 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 worth $29,000 after purchasing an additional 750 shares during the last quarter. Finally, Glassman Wealth Services raised its holdings in Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after purchasing an additional 967 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

About Regions Financial

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.