FY2024 EPS Estimate for Regions Financial Lowered by Analyst

Regions Financial Co. (NYSE:RF) – Equities research analysts at DA Davidson dropped their FY2024 earnings per share estimates for Regions Financial in a research report issued on Thursday, December 19th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings of $2.08 per share for the year, down from their prior forecast of $2.10. DA Davidson currently has a “Buy” rating and a $29.00 price target on the stock. The consensus estimate for Regions Financial’s current full-year earnings is $2.12 per share. DA Davidson also issued estimates for Regions Financial’s FY2025 earnings at $2.28 EPS.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the business posted $0.49 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis.

Several other brokerages have also weighed in on RF. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Citigroup upped their price target on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wells Fargo & Company increased their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Truist Financial boosted their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Compass Point upped their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.61.

Regions Financial Trading Up 2.6 %

Shares of RF stock opened at $23.77 on Monday. Regions Financial has a fifty-two week low of $17.42 and a fifty-two week high of $27.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50 day simple moving average of $25.20 and a two-hundred day simple moving average of $22.74. The company has a market cap of $21.60 billion, a P/E ratio of 13.43, a PEG ratio of 2.64 and a beta of 1.19.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in shares of Regions Financial by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,087,697 shares of the bank’s stock worth $25,376,000 after purchasing an additional 34,125 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Regions Financial by 3.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 17,233 shares of the bank’s stock worth $403,000 after buying an additional 584 shares during the last quarter. Forthright Family Wealth Advisory LLC bought a new stake in shares of Regions Financial in the third quarter valued at $181,000. Logan Capital Management Inc. purchased a new position in shares of Regions Financial during the 3rd quarter valued at $2,195,000. Finally, Franklin Resources Inc. grew its stake in shares of Regions Financial by 30.9% during the 3rd quarter. Franklin Resources Inc. now owns 702,627 shares of the bank’s stock worth $16,758,000 after acquiring an additional 165,710 shares during the period. Hedge funds and other 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.