Regions Financial Corporation (RF) Expected to Post Earnings of $0.26 Per Share
Equities research analysts expect Regions Financial Corporation (NYSE:RF) to announce earnings of $0.26 per share for the current fiscal quarter, Zacks Investment Research reports. Twenty Three analysts have provided estimates for Regions Financial Corporation’s earnings, with estimates ranging from $0.24 to $0.28. Regions Financial Corporation posted earnings per share of $0.24 in the same quarter last year, which suggests a positive year over year growth rate of 8.3%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 17th.
On average, analysts expect that Regions Financial Corporation will report full year earnings of $1.00 per share for the current year, with EPS estimates ranging from $0.97 to $1.03. For the next year, analysts anticipate that the company will post earnings of $1.13 per share, with EPS estimates ranging from $1.07 to $1.26. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Regions Financial Corporation.
Regions Financial Corporation (NYSE:RF) last issued its earnings results on Friday, July 21st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS.
A number of research firms have recently weighed in on RF. Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. BidaskClub raised Regions Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Instinet reaffirmed a “neutral” rating and set a $16.00 price target on shares of Regions Financial Corporation in a report on Wednesday, July 12th. Wells Fargo & Company began coverage on Regions Financial Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $16.00 price target on the stock. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $17.00 price target on shares of Regions Financial Corporation in a report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.21.
Shares of Regions Financial Corporation (RF) traded up 1.04% during trading on Tuesday, hitting $14.56. The stock had a trading volume of 2,397,476 shares. The firm’s 50-day moving average is $14.56 and its 200-day moving average is $14.47. Regions Financial Corporation has a one year low of $9.37 and a one year high of $16.03. The firm has a market cap of $17.40 billion, a P/E ratio of 15.21 and a beta of 1.31.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a $0.09 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.50%. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. Regions Financial Corporation’s dividend payout ratio is currently 29.47%.
Regions Financial Corporation declared that its board has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $1.47 billion in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In other Regions Financial Corporation news, EVP Fournier J. Gale III sold 35,825 shares of Regions Financial Corporation stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $14.59, for a total transaction of $522,686.75. Following the transaction, the executive vice president now directly owns 109,318 shares in the company, valued at approximately $1,594,949.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of Regions Financial Corporation stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $14.95, for a total transaction of $971,750.00. Following the transaction, the chief financial officer now owns 121,160 shares in the company, valued at $1,811,342. The disclosure for this sale can be found here. Insiders sold 124,514 shares of company stock worth $1,846,733 in the last ninety days. 0.52% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in Regions Financial Corporation by 11.1% in the second quarter. The Manufacturers Life Insurance Company now owns 6,824,487 shares of the bank’s stock valued at $99,911,000 after buying an additional 680,901 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Regions Financial Corporation during the second quarter valued at $1,848,000. Moors & Cabot Inc. boosted its position in Regions Financial Corporation by 1.8% in the second quarter. Moors & Cabot Inc. now owns 38,785 shares of the bank’s stock valued at $567,000 after buying an additional 702 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Regions Financial Corporation by 137.1% in the second quarter. Cubist Systematic Strategies LLC now owns 255,158 shares of the bank’s stock valued at $3,736,000 after buying an additional 147,530 shares during the last quarter. Finally, Green Square Capital LLC purchased a new position in Regions Financial Corporation during the second quarter valued at $235,000. Hedge funds and other institutional investors own 76.61% of the company’s stock.
Regions Financial Corporation Company Profile
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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