Q2 2024 Earnings Forecast for Regions Financial Co. Issued By DA Davidson (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Analysts at DA Davidson lifted their Q2 2024 earnings per share estimates for shares of Regions Financial in a research note issued to investors on Thursday, June 27th. DA Davidson analyst P. Winter now anticipates that the bank will earn $0.50 per share for the quarter, up from their prior estimate of $0.48. The consensus estimate for Regions Financial’s current full-year earnings is $1.96 per share.

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

A number of other research firms have also weighed in on RF. Morgan Stanley reduced their price objective on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Keefe, Bruyette & Woods raised their price objective on Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Piper Sandler raised their price objective on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Evercore ISI reduced their price objective on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Finally, StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.28.

Regions Financial Stock Up 4.4 %

Shares of NYSE:RF opened at $20.04 on Monday. Regions Financial has a 52-week low of $13.72 and a 52-week high of $21.08. The firm has a market capitalization of $18.35 billion, a P/E ratio of 10.89, a P/E/G ratio of 2.19 and a beta of 1.19. The stock has a 50 day moving average price of $19.29 and a 200-day moving average price of $19.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83.

Hedge Funds Weigh In On Regions Financial

Several hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in Regions Financial in the first quarter valued at $26,000. Laurel Wealth Advisors LLC increased its holdings in shares of Regions Financial by 86.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after buying an additional 649 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Regions Financial during the 4th quarter worth approximately $28,000. Sound Income Strategies LLC increased its holdings in shares of Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after buying an additional 750 shares during the last quarter. Finally, Glassman Wealth Services increased its holdings in shares of Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after buying an additional 967 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Regions Financial news, Director William C. Rhodes III acquired 50,000 shares of Regions Financial stock in a transaction that occurred on Tuesday, April 23rd. The stock was bought at an average price of $19.37 per share, with a total value of $968,500.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Regions Financial news, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The shares were acquired at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $968,500. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP William D. Ritter sold 23,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend is Monday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

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.