Brokerages Anticipate Regions Financial Corp (NYSE:RF) Will Announce Quarterly Sales of $1.48 Billion

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.



Several research analysts have recently weighed in on RF shares. Raymond James dropped their price target on shares of Regions Financial from $19.50 to $18.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 22nd. Bank of America cut shares of Regions Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $16.00 in a research note on Thursday, July 11th. Macquarie cut shares of Regions Financial from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 23rd. Morgan Stanley set a $16.00 price target on shares of Regions Financial and gave the stock a “hold” rating in a research note on Friday. Finally, Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $15.00 to $17.00 in a research note on Monday, July 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $17.33.

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?

Get a free copy of the Zacks research report on Regions Financial (RF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Regions Financial (NYSE:RF)

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.