Q2 2024 Earnings Forecast for Regions Financial Co. (NYSE:RF) Issued By DA Davidson

Regions Financial Co. (NYSE:RF) – Analysts at DA Davidson upped their Q2 2024 earnings estimates for shares of Regions Financial in a research note issued to investors on Thursday, June 27th. DA Davidson analyst P. Winter now forecasts that the bank will earn $0.50 per share for the quarter, up from their prior estimate of $0.48. The consensus estimate for Regions Financial’s current full-year earnings is $1.96 per share.

RF has been the subject of a number of other research reports. Piper Sandler boosted their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Evercore ISI reduced their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Truist Financial cut their target price on Regions Financial from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Keefe, Bruyette & Woods raised their price target on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Regions Financial currently has an average rating of “Hold” and an average target price of $20.28.

Regions Financial Trading Up 1.0 %

Shares of Regions Financial stock opened at $20.09 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a 50-day moving average of $19.32 and a 200-day moving average of $19.18. Regions Financial has a 52-week low of $13.72 and a 52-week high of $21.08. The stock has a market cap of $18.40 billion, a PE ratio of 10.92, a PEG ratio of 2.19 and a beta of 1.18.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the business posted $0.62 EPS. Regions Financial’s revenue for the quarter was down 10.5% on a year-over-year basis.

Institutional Trading of Regions Financial

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Regions Financial by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after buying an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares during the period. Norges Bank purchased a new stake in Regions Financial during the 4th quarter worth about $210,379,000. Allspring Global Investments Holdings LLC boosted its stake in Regions Financial by 1.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock worth $162,163,000 after purchasing an additional 103,529 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Regions Financial by 0.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,541,154 shares of the bank’s stock valued at $95,371,000 after buying an additional 44,882 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Insider Buying and Selling

In other Regions Financial news, Director William C. Rhodes III purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was purchased at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP William D. Ritter sold 23,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at $831,336.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The stock was bought at an average price of $19.37 per share, with a total value of $968,500.00. Following the completion of the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Monday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

About Regions Financial

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.