Q3 2021 EPS Estimates for Regions Financial Corp (NYSE:RF) Reduced by Analyst
Regions Financial Corp (NYSE:RF) – Investment analysts at Jefferies Financial Group decreased their Q3 2021 earnings estimates for Regions Financial in a report issued on Thursday, July 9th. Jefferies Financial Group analyst K. Usdin now forecasts that the bank will post earnings of $0.35 per share for the quarter, down from their previous estimate of $0.46. Jefferies Financial Group has a “Buy” rating and a $11.00 price target on the stock.
A number of other brokerages also recently commented on RF. Bank of America lowered their price objective on shares of Regions Financial from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday. Deutsche Bank lowered their price target on shares of Regions Financial from $17.50 to $12.00 and set a “hold” rating on the stock in a report on Thursday, April 2nd. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Regions Financial in a report on Tuesday, March 17th. UBS Group lifted their price objective on Regions Financial from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Nomura Securities dropped their target price on Regions Financial from $17.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Regions Financial has a consensus rating of “Hold” and an average price target of $13.53.
Regions Financial (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial had a return on equity of 9.09% and a net margin of 20.35%. During the same period last year, the business earned $0.37 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were given a $0.155 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.62 annualized dividend and a yield of 5.92%. Regions Financial’s dividend payout ratio is 40.00%.
In other news, Director Jose S. Suquet bought 5,000 shares of Regions Financial stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average cost of $10.21 per share, with a total value of $51,050.00. Following the completion of the transaction, the director now directly owns 41,527 shares in the company, valued at $423,990.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jose S. Suquet purchased 10,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $9.88 per share, for a total transaction of $98,800.00. Following the purchase, the director now directly owns 41,527 shares of the company’s stock, valued at $410,286.76. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital World Investors bought a new position in shares of Regions Financial during the first quarter valued at $288,941,000. JPMorgan Chase & Co. increased its position in shares of Regions Financial by 309.9% during the 1st quarter. JPMorgan Chase & Co. now owns 19,757,041 shares of the bank’s stock worth $177,221,000 after purchasing an additional 14,936,752 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Regions Financial by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 17,725,476 shares of the bank’s stock valued at $158,758,000 after purchasing an additional 899,837 shares during the last quarter. Norges Bank acquired a new position in Regions Financial in the fourth quarter valued at about $183,638,000. Finally, Goldman Sachs Group Inc. grew its stake in Regions Financial by 2.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,169,028 shares of the bank’s stock worth $157,341,000 after buying an additional 190,099 shares during the last quarter. 73.03% of the stock is currently owned by institutional investors.
About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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