Regions Financial (NYSE:RF) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Regions Financial (NYSE:RFGet Free Report) released its earnings results on Friday. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08), RTT News reports. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share.

Regions Financial Trading Down 0.5 %

RF traded down $0.10 during trading on Friday, hitting $18.90. The company’s stock had a trading volume of 18,046,100 shares, compared to its average volume of 5,998,578. Regions Financial has a twelve month low of $13.72 and a twelve month high of $21.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average price is $19.32 and its 200-day moving average price is $18.00. The firm has a market capitalization of $17.37 billion, a P/E ratio of 10.27, a PEG ratio of 1.36 and a beta of 1.21.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RF. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $23.00 in a report on Monday, March 18th. Truist Financial raised their price objective on Regions Financial from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, April 1st. Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $15.00 to $22.00 in a research note on Tuesday, January 9th. Stephens reaffirmed an “equal weight” rating and issued a $21.00 price objective on shares of Regions Financial in a research note on Tuesday, January 23rd. Finally, Barclays reaffirmed an “underweight” rating and issued a $22.00 price objective (up from $20.00) on shares of Regions Financial in a research note on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.39.

Check Out Our Latest Stock Report on Regions Financial

Hedge Funds Weigh In On Regions Financial

Several institutional investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP acquired a new position in shares of Regions Financial during the first quarter worth approximately $26,000. Clear Street Markets LLC acquired a new position in shares of Regions Financial during the fourth quarter worth approximately $33,000. Harbour Investments Inc. raised its position in shares of Regions Financial by 715.1% during the fourth quarter. Harbour Investments Inc. now owns 1,891 shares of the bank’s stock worth $41,000 after purchasing an additional 1,659 shares during the period. Coppell Advisory Solutions Corp. bought a new stake in Regions Financial during the fourth quarter worth $49,000. Finally, ICA Group Wealth Management LLC bought a new stake in Regions Financial during the fourth quarter worth $53,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Regions Financial (NYSE:RF)

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