Equities Analysts Issue Forecasts for RF FY2024 Earnings

Regions Financial Co. (NYSE:RF) – Investment analysts at DA Davidson upped their FY2024 earnings per share 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 per share of $2.10 for the year, up from their previous estimate of $2.06. DA Davidson has a “Buy” rating and a $29.00 price objective 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) last released its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS.

A number of other equities research analysts have also recently weighed in on RF. Jefferies Financial Group upped their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Wells Fargo & Company raised their price objective on Regions Financial from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday. Royal Bank of Canada boosted their target price on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Evercore ISI lifted their price target on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Wedbush upped their price target on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Regions Financial presently has an average rating of “Hold” and an average target price of $23.64.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $23.64 on Tuesday. Regions Financial has a 12 month low of $13.72 and a 12 month high of $24.47. The firm has a market capitalization of $21.65 billion, a P/E ratio of 12.85, a P/E/G ratio of 2.80 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $22.76 and a two-hundred day simple moving average of $20.94.

Regions Financial Dividend Announcement

The company also recently disclosed 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 yield of 4.23%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Regions Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after purchasing an additional 979,597 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Regions Financial by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after buying an additional 1,014,706 shares during the period. Cincinnati Insurance Co. purchased a new stake in Regions Financial during the first quarter valued at approximately $74,606,000. Victory Capital Management Inc. raised its position in Regions Financial by 17.1% in the second quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock worth $59,421,000 after acquiring an additional 433,319 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Regions Financial by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,822,420 shares of the bank’s stock worth $59,384,000 after acquiring an additional 171,280 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other 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.