Regions Financial Co. Forecasted to Earn Q3 2024 Earnings of $0.52 Per Share (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Research analysts at Wedbush decreased their Q3 2024 earnings per share (EPS) estimates for shares of Regions Financial in a note issued to investors on Friday, April 19th. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $0.52 per share for the quarter, down from their previous forecast of $0.54. The consensus estimate for Regions Financial’s current full-year earnings is $1.97 per share. Wedbush also issued estimates for Regions Financial’s Q4 2024 earnings at $0.53 EPS, FY2024 earnings at $1.91 EPS and Q1 2025 earnings at $0.53 EPS.

A number of other equities analysts have also recently weighed in on the company. Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $15.00 to $22.00 in a report on Tuesday, January 9th. Argus downgraded Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Stephens reaffirmed an “equal weight” rating and issued a $21.00 target price on shares of Regions Financial in a research report on Tuesday, January 23rd. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Finally, Morgan Stanley dropped their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday. 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. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and an average target price of $20.17.

Regions Financial Stock Performance

NYSE RF opened at $19.19 on Monday. The stock has a market cap of $17.63 billion, a PE ratio of 10.43, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Regions Financial has a twelve month low of $13.72 and a twelve month high of $21.08. The stock has a fifty day simple moving average of $19.33 and a 200-day simple moving average of $18.03.

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

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.00%. The ex-dividend date is Friday, May 31st. Regions Financial’s payout ratio is 52.17%.

Institutional Investors Weigh In On Regions Financial

Several institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. lifted its stake in Regions Financial by 16.5% during the fourth quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock worth $75,000 after purchasing an additional 549 shares during the last quarter. CWM LLC increased its position in Regions Financial by 1.4% during the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after buying an additional 556 shares during the period. Signet Financial Management LLC increased its position in Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after buying an additional 584 shares during the period. Pinnacle Financial Partners Inc increased its position in Regions Financial by 0.4% during the fourth quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank’s stock worth $2,797,000 after buying an additional 606 shares during the period. Finally, MV Capital Management Inc. increased its position in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after buying an additional 618 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Company Profile

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.