Wedbush Comments on Regions Financial Co.'s FY2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF - Free Report) - Equities research analysts at Wedbush cut their FY2024 EPS estimates for shares of Regions Financial in a research report issued to clients and investors on Tuesday, September 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $1.90 for the year, down from their prior estimate of $2.00. Wedbush has a "Outperform" rating and a $28.00 price objective on the stock. The consensus estimate for Regions Financial's current full-year earnings is $2.01 per share. Wedbush also issued estimates for Regions Financial's Q1 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.59 EPS, Q1 2026 earnings at $0.59 EPS and Q2 2026 earnings at $0.62 EPS.

A number of other equities analysts have also recently weighed in on the company. StockNews.com upgraded Regions Financial from a "sell" rating to a "hold" rating in a report on Thursday, September 12th. Evercore ISI lowered their target price on shares of Regions Financial from $22.00 to $21.00 and set an "in-line" rating for the company in a research note on Tuesday, June 25th. Wells Fargo & Company boosted their price target on shares of Regions Financial from $18.00 to $22.00 and gave the company an "equal weight" rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods decreased their price objective on shares of Regions Financial from $22.00 to $21.00 and set a "market perform" rating on the stock in a report on Tuesday, July 9th. Finally, Citigroup lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Regions Financial presently has an average rating of "Hold" and a consensus target price of $22.06.

Regions Financial Trading Up 1.7 %

Shares of NYSE RF traded up $0.38 during trading on Thursday, hitting $22.92. 2,166,956 shares of the company were exchanged, compared to its average volume of 7,945,680. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial has a 12-month low of $13.72 and a 12-month high of $23.47. The company has a fifty day moving average price of $22.15 and a 200-day moving average price of $20.49. The firm has a market capitalization of $20.99 billion, a PE ratio of 12.25, a P/E/G ratio of 2.95 and a beta of 1.17.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.59 earnings per share. The company's revenue was down 11.5% compared to the same quarter last year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 4.36%. This is an increase from Regions Financial's previous quarterly dividend of $0.24. Regions Financial's dividend payout ratio is presently 54.35%.

Institutional Trading of Regions Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new stake in shares of Regions Financial during the 1st quarter worth $26,000. Quarry LP increased its stake in Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank's stock worth $27,000 after purchasing an additional 816 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Regions Financial during the 4th quarter worth about $28,000. MV Capital Management Inc. lifted its stake in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank's stock valued at $30,000 after buying an additional 618 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock worth $30,000 after buying an additional 1,256 shares during the period. 79.39% of the stock is currently 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. 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.