Regions Financial (NYSE:RF) Posts Quarterly 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 the consensus estimate of $0.45 by ($0.08), RTT News reports. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share.

Regions Financial Price Performance

Shares of NYSE:RF opened at $18.90 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $17.37 billion, a PE ratio of 10.27, a P/E/G ratio of 1.37 and a beta of 1.21. Regions Financial has a twelve month low of $13.72 and a twelve month high of $21.08. The company has a 50-day moving average price of $19.32 and a two-hundred day moving average price of $18.01.

Regions Financial Dividend Announcement

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

Hedge Funds Weigh In On Regions Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RF. Toroso Investments LLC lifted its holdings in shares of Regions Financial by 5.0% in the fourth quarter. Toroso Investments LLC now owns 10,722 shares of the bank’s stock worth $231,000 after buying an additional 508 shares in the last quarter. Kinneret Advisory LLC lifted its holdings in shares of Regions Financial by 2.3% in the first quarter. Kinneret Advisory LLC now owns 29,352 shares of the bank’s stock worth $658,000 after buying an additional 656 shares in the last quarter. Balentine LLC raised its stake in Regions Financial by 4.8% in the second quarter. Balentine LLC now owns 14,346 shares of the bank’s stock valued at $256,000 after purchasing an additional 657 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Regions Financial by 41.7% in the first quarter. Parkside Financial Bank & Trust now owns 2,505 shares of the bank’s stock valued at $56,000 after purchasing an additional 737 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Regions Financial by 8.0% in the first quarter. Advisory Services Network LLC now owns 10,244 shares of the bank’s stock valued at $190,000 after purchasing an additional 755 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RF. Stephens reaffirmed an “equal weight” rating and set a $21.00 price target on shares of Regions Financial in a report on Tuesday, January 23rd. Truist Financial boosted their target price on shares of Regions Financial from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, April 1st. Evercore ISI boosted their target price on shares of Regions Financial from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. StockNews.com lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.39.

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.