Analysts Anticipate Regions Financial Corp (RF) to Post $0.36 EPS
Wall Street analysts expect that Regions Financial Corp (NYSE:RF) will announce earnings per share (EPS) of $0.36 for the current quarter, according to Zacks. Twenty Five analysts have issued estimates for Regions Financial’s earnings. The highest EPS estimate is $0.37 and the lowest is $0.35. Regions Financial posted earnings of $0.25 per share during the same quarter last year, which would suggest a positive year over year growth rate of 44%. The company is expected to announce its next quarterly earnings results before the market opens on Tuesday, October 23rd.
On average, analysts expect that Regions Financial will report full-year earnings of $1.42 per share for the current year, with EPS estimates ranging from $1.37 to $1.46. For the next financial year, analysts expect that the company will post earnings of $1.58 per share, with EPS estimates ranging from $1.50 to $1.66. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Regions Financial.
Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 20th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. Regions Financial had a return on equity of 9.46% and a net margin of 22.77%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share.
RF opened at $18.27 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.66. The firm has a market cap of $20.23 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.04 and a beta of 1.29. Regions Financial has a 52 week low of $14.62 and a 52 week high of $20.21.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 7th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.07%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, September 6th. Regions Financial’s dividend payout ratio (DPR) is presently 56.00%.
In other news, EVP C. Keith Herron sold 23,186 shares of Regions Financial stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $18.76, for a total value of $434,969.36. Following the transaction, the executive vice president now directly owns 204,537 shares of the company’s stock, valued at approximately $3,837,114.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan W. Matlock sold 24,000 shares of Regions Financial stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $18.50, for a total value of $444,000.00. Following the completion of the transaction, the director now directly owns 14,914 shares in the company, valued at $275,909. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in shares of Regions Financial by 52.7% during the 2nd quarter. Millennium Management LLC now owns 19,743,411 shares of the bank’s stock valued at $351,038,000 after buying an additional 6,813,530 shares during the period. Bank of Montreal Can raised its holdings in shares of Regions Financial by 4.6% during the 2nd quarter. Bank of Montreal Can now owns 17,179,629 shares of the bank’s stock valued at $305,453,000 after buying an additional 754,073 shares during the period. Bank of America Corp DE raised its holdings in shares of Regions Financial by 0.8% during the 2nd quarter. Bank of America Corp DE now owns 12,496,685 shares of the bank’s stock valued at $222,190,000 after buying an additional 95,653 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Regions Financial by 135.1% during the 2nd quarter. Janus Henderson Group PLC now owns 7,807,580 shares of the bank’s stock valued at $138,818,000 after buying an additional 4,486,512 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Regions Financial by 10.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 6,881,981 shares of the bank’s stock valued at $127,868,000 after buying an additional 628,453 shares during the period. 74.80% of the stock is currently owned by institutional investors and hedge funds.
Regions Financial Company Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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