Brokerages expect Regions Financial Corp (NYSE:RF) to report sales of $1.48 billion for the current quarter, Zacks Investment Research reports. Twenty Four analysts have issued estimates for Regions Financial’s earnings, with estimates ranging from $1.46 billion to $1.50 billion. Regions Financial posted sales of $1.46 billion during the same quarter last year, which would indicate a positive year over year growth rate of 1.4%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, October 22nd.
According to Zacks, analysts expect that Regions Financial will report full year sales of $5.85 billion for the current year, with estimates ranging from $5.80 billion to $5.94 billion. For the next year, analysts expect that the business will report sales of $5.96 billion, with estimates ranging from $5.86 billion to $6.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Regions Financial.
Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year.
Shares of Regions Financial stock traded down $0.03 on Thursday, hitting $14.27. 15,189,847 shares of the company’s stock were exchanged, compared to its average volume of 12,201,321. The firm has a 50-day moving average of $15.11. The company has a market capitalization of $14.64 billion, a PE ratio of 10.49, a PEG ratio of 1.36 and a beta of 1.49. Regions Financial has a 1 year low of $12.39 and a 1 year high of $19.99. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.89 and a quick ratio of 0.88.
Regions Financial announced that its Board of Directors has authorized a stock repurchase program on Thursday, June 27th that allows the company to repurchase $1.37 billion in shares. This repurchase authorization allows the bank to buy up to 9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a $0.155 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.14. This represents a $0.62 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Thursday, September 5th. Regions Financial’s dividend payout ratio is currently 41.18%.
In other news, COO John B. Owen sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $14.63, for a total value of $585,200.00. Following the completion of the sale, the chief operating officer now owns 87,152 shares of the company’s stock, valued at approximately $1,275,033.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $14.68, for a total transaction of $104,932.64. Following the completion of the sale, the insider now directly owns 34,482 shares of the company’s stock, valued at approximately $506,195.76. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Crestline Management LP acquired a new position in Regions Financial during the 2nd quarter valued at approximately $969,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Regions Financial by 0.5% in the second quarter. Nomura Asset Management Co. Ltd. now owns 193,926 shares of the bank’s stock worth $2,897,000 after acquiring an additional 870 shares during the period. Greenwich Wealth Management LLC increased its stake in shares of Regions Financial by 1.0% in the second quarter. Greenwich Wealth Management LLC now owns 113,098 shares of the bank’s stock worth $1,690,000 after acquiring an additional 1,067 shares during the period. ETRADE Capital Management LLC increased its stake in shares of Regions Financial by 85.0% in the second quarter. ETRADE Capital Management LLC now owns 64,387 shares of the bank’s stock worth $962,000 after acquiring an additional 29,586 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of Regions Financial by 38.6% in the second quarter. HighTower Advisors LLC now owns 263,179 shares of the bank’s stock worth $3,920,000 after acquiring an additional 73,361 shares during the period. 71.89% of the stock is owned by institutional investors.
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.
Featured Story: What are defining characteristics of a correction?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Regions Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regions Financial and related companies with MarketBeat.com's FREE daily email newsletter.