Wall Street analysts expect that Regions Financial Corp (NYSE:RF) will report earnings per share of $0.39 for the current quarter, Zacks reports. Twenty Four analysts have provided estimates for Regions Financial’s earnings. The lowest EPS estimate is $0.37 and the highest is $0.41. Regions Financial posted earnings of $0.32 per share in the same quarter last year, which indicates a positive year over year growth rate of 21.9%. The business is expected to issue its next earnings report before the market opens on Tuesday, October 22nd.
According to Zacks, analysts expect that Regions Financial will report full year earnings of $1.54 per share for the current year, with EPS estimates ranging from $1.50 to $1.57. For the next year, analysts forecast that the business will report earnings of $1.63 per share, with EPS estimates ranging from $1.57 to $1.68. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Regions Financial.
Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.49 billion. Regions Financial had a return on equity of 10.86% and a net margin of 26.43%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share.
In related news, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 34,482 shares of the company’s stock, valued at $506,195.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John B. Owen sold 40,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 87,152 shares in the company, valued at $1,275,033.76. The disclosure for this sale can be found here. Insiders have sold 136,436 shares of company stock worth $2,024,102 over the last ninety days. 0.28% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Investors Asset Management of Georgia Inc. GA ADV raised its position in Regions Financial by 1.4% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 49,220 shares of the bank’s stock valued at $735,000 after buying an additional 700 shares during the period. Weiss Asset Management LP increased its position in Regions Financial by 7.3% in the 2nd quarter. Weiss Asset Management LP now owns 11,006 shares of the bank’s stock worth $164,000 after purchasing an additional 747 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Regions Financial by 0.5% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 193,926 shares of the bank’s stock worth $2,897,000 after purchasing an additional 870 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Regions Financial by 2.7% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 33,700 shares of the bank’s stock worth $503,000 after purchasing an additional 900 shares during the last quarter. Finally, Jag Capital Management LLC increased its position in Regions Financial by 1.4% in the 2nd quarter. Jag Capital Management LLC now owns 64,880 shares of the bank’s stock worth $969,000 after purchasing an additional 908 shares during the last quarter. 71.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Regions Financial stock traded up $0.30 during trading on Monday, hitting $16.07. The stock had a trading volume of 8,955,467 shares, compared to its average volume of 11,692,845. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market cap of $16.03 billion, a P/E ratio of 11.82, a PEG ratio of 1.54 and a beta of 1.55. The business has a fifty day moving average of $15.58 and a two-hundred day moving average of $15.00. Regions Financial has a fifty-two week low of $12.39 and a fifty-two week high of $17.88.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Thursday, December 5th. Regions Financial’s dividend payout ratio (DPR) is presently 45.59%.
Regions Financial announced that its Board of Directors has initiated a share repurchase program on Thursday, June 27th that authorizes the company to buyback $1.37 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Regions Financial Company Profile
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.
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