Equities Analysts Set Expectations for RF FY2024 Earnings

Regions Financial Co. (NYSE:RF - Free Report) - Investment analysts at DA Davidson upped their FY2024 earnings estimates for shares of Regions Financial in a research note issued on Monday, October 21st. DA Davidson analyst P. Winter now anticipates that the bank will post earnings of $2.10 per share for the year, up from their prior estimate of $2.06. DA Davidson currently has a "Buy" rating and a $29.00 target price on the stock. The consensus estimate for Regions Financial's current full-year earnings is $2.02 per share. DA Davidson also issued estimates for Regions Financial's Q4 2024 earnings at $0.56 EPS and FY2025 earnings at $2.29 EPS.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company's revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share.

A number of other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods cut their price target 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. Truist Financial upped their target price on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a report on Monday. Morgan Stanley raised their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. Jefferies Financial Group upped their target price on shares of Regions Financial from $22.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, July 3rd. Finally, Wedbush lifted their price target on Regions Financial from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $23.64.

Regions Financial Trading Up 0.0 %

RF traded up $0.01 on Tuesday, hitting $23.64. 8,849,744 shares of the company were exchanged, compared to its average volume of 7,947,631. The stock has a market capitalization of $21.65 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17. Regions Financial has a 12 month low of $13.72 and a 12 month high of $24.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a fifty day simple moving average of $22.70 and a two-hundred day simple moving average of $20.91.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.23%. Regions Financial's payout ratio is currently 54.35%.

Hedge Funds Weigh In On Regions Financial

Hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC purchased a new position in Regions Financial during the 1st quarter worth $26,000. American National Bank & Trust increased its stake in Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock valued at $27,000 after purchasing an additional 1,114 shares in the last quarter. Quarry LP lifted its stake in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank's stock worth $27,000 after buying an additional 816 shares during the period. MV Capital Management Inc. grew its holdings in shares of 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 during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock valued at $30,000 after acquiring an additional 1,256 shares during the period. Institutional investors own 79.39% of the company's stock.

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.