FY2024 EPS Estimates for Regions Financial Co. Reduced by Analyst (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Analysts at DA Davidson cut their FY2024 earnings estimates for shares of Regions Financial in a note issued to investors on Monday, April 22nd. DA Davidson analyst P. Winter now forecasts that the bank will post earnings of $1.97 per share for the year, down from their previous forecast of $2.00. The consensus estimate for Regions Financial’s current full-year earnings is $1.95 per share.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS.

A number of other analysts have also commented on the stock. Truist Financial lowered their target price on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday. Keefe, Bruyette & Woods increased their target price on Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Evercore ISI boosted their price objective on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, Stephens reiterated an “equal weight” rating and issued a $21.00 target price on shares of Regions Financial in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.17.

Regions Financial Stock Performance

Regions Financial stock opened at $19.34 on Wednesday. Regions Financial has a 1 year low of $13.72 and a 1 year high of $21.08. The company’s 50-day moving average is $19.36 and its two-hundred day moving average is $18.05. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.77 billion, a PE ratio of 10.51, a PEG ratio of 1.40 and a beta of 1.21.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is currently 52.17%.

Institutional Trading of Regions Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in RF. Silver Lake Advisory LLC grew its position in Regions Financial by 8.9% in the first quarter. Silver Lake Advisory LLC now owns 215,836 shares of the bank’s stock valued at $4,541,000 after purchasing an additional 17,681 shares in the last quarter. Community Financial Services Group LLC acquired a new position in shares of Regions Financial during the 1st quarter worth about $599,000. Amalgamated Bank grew its holdings in shares of Regions Financial by 4.2% in the 1st quarter. Amalgamated Bank now owns 244,109 shares of the bank’s stock valued at $5,136,000 after acquiring an additional 9,823 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in shares of Regions Financial in the first quarter valued at about $210,000. Finally, Confluence Wealth Services Inc. increased its position in shares of Regions Financial by 7.2% in the first quarter. Confluence Wealth Services Inc. now owns 39,375 shares of the bank’s stock valued at $828,000 after acquiring an additional 2,635 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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.