Regions Financial (NYSE:RF) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Regions Financial (NYSE:RF - Get Free Report) released its quarterly earnings results on Thursday. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03, RTT News reports. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $0.37 earnings per share.

Regions Financial Price Performance

Shares of NYSE RF traded up $0.09 during mid-day trading on Friday, hitting $19.26. 18,651,917 shares of the stock traded hands, compared to its average volume of 8,135,804. Regions Financial has a twelve month low of $17.72 and a twelve month high of $27.96. The firm has a 50 day simple moving average of $21.59 and a two-hundred day simple moving average of $23.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market cap of $17.44 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend is Monday, June 2nd. Regions Financial's payout ratio is 48.08%.

Insiders Place Their Bets

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders bought a total of 3,343 shares of company stock valued at $74,348 in the last 90 days. Corporate insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RF shares. Citigroup lowered their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Barclays raised their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research note on Monday, January 6th. Wells Fargo & Company dropped their price objective on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. Truist Financial reduced their target price on Regions Financial from $26.00 to $24.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley dropped their price target on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $26.42.

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.