DA Davidson Reduces Earnings Estimates for Regions Financial

Regions Financial Co. (NYSE:RF) – Equities researchers at DA Davidson cut their FY2024 EPS estimates for Regions Financial in a research note issued to investors 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 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 $2.12 per share. DA Davidson also issued estimates for Regions Financial’s FY2025 earnings at $2.28 EPS.

Regions Financial (NYSE:RF) last posted its earnings results 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). The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS.

Several other research analysts also recently issued reports on RF. Citigroup upped their price objective on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. The Goldman Sachs Group upped their price target on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays boosted their price objective on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Argus raised shares of Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Thursday, October 24th. Finally, Truist Financial lifted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Regions Financial has an average rating of “Moderate Buy” and an average target price of $27.61.

Regions Financial Trading Up 0.3 %

Shares of RF opened at $23.84 on Monday. 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 company has a market cap of $21.67 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.64 and a beta of 1.19. The stock has a fifty day moving average price of $25.20 and a two-hundred day moving average price of $22.77. Regions Financial has a 52-week low of $17.42 and a 52-week high of $27.96.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio is currently 56.50%.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of RF. Citigroup Inc. grew its stake in Regions Financial by 20.0% in the 3rd quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after buying an additional 253,708 shares during the last quarter. Commerce Bank grew its position in shares of Regions Financial by 392.5% in the third quarter. Commerce Bank now owns 248,325 shares of the bank’s stock valued at $5,793,000 after purchasing an additional 197,900 shares during the last quarter. National Pension Service increased its stake in shares of Regions Financial by 6.3% during the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after purchasing an additional 102,380 shares during the period. National Bank of Canada FI increased its stake in shares of Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after purchasing an additional 1,452,956 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Regions Financial in the 3rd quarter valued at $3,451,000. Institutional investors own 79.39% of the company’s stock.

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.