Regions Financial (NYSE:RF) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Regions Financial (NYSE:RF) announced its quarterly earnings results on Friday. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05, FiscalAI reports. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year.

Regions Financial Stock Performance

Shares of RF stock opened at $32.35 on Friday. The company has a market cap of $27.61 billion, a P/E ratio of 13.48, a PEG ratio of 1.22 and a beta of 1.00. The firm has a fifty day moving average price of $28.87 and a 200 day moving average price of $28.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial has a 12 month low of $22.70 and a 12 month high of $32.47.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 3.7%. Regions Financial’s dividend payout ratio (DPR) is presently 44.17%.

Insider Activity at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in shares of Regions Financial by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after purchasing an additional 373 shares during the period. Inspire Investing LLC lifted its stake in shares of Regions Financial by 3.7% in the 4th quarter. Inspire Investing LLC now owns 12,455 shares of the bank’s stock worth $338,000 after acquiring an additional 439 shares during the period. Stonebridge Capital Advisors LLC lifted its stake in shares of Regions Financial by 0.9% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 56,700 shares of the bank’s stock worth $1,334,000 after acquiring an additional 500 shares during the period. Gateway Wealth Partners LLC boosted its holdings in shares of Regions Financial by 1.7% in the fourth quarter. Gateway Wealth Partners LLC now owns 29,226 shares of the bank’s stock valued at $792,000 after acquiring an additional 502 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in shares of Regions Financial by 0.7% in the second quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after acquiring an additional 511 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Truist Financial reaffirmed a “hold” rating and issued a $30.00 price target on shares of Regions Financial in a report on Tuesday, April 21st. Morgan Stanley upped their target price on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Evercore reaffirmed an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th. UBS Group boosted their price target on shares of Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research note on Monday, July 6th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.28.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.