Brokers Issue Forecasts for Regions Financial Co.’s Q2 2023 Earnings (NYSE:RF)

Posted by on Apr 26th, 2023

Regions Financial Co. (NYSE:RF – Get Rating) – Stock analysts at DA Davidson issued their Q2 2023 EPS estimates for shares of Regions Financial in a note issued to investors on Monday, April 24th. DA Davidson analyst P. Winter expects that the bank will earn $0.62 per share for the quarter. The consensus estimate for Regions Financial’s current full-year earnings is $2.49 per share. DA Davidson also issued estimates for Regions Financial’s FY2023 earnings at $2.39 EPS and FY2024 earnings at $2.30 EPS.

Regions Financial (NYSE:RF – Get Rating) last posted its quarterly earnings data on Friday, April 21st. The bank reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03). Regions Financial had a return on equity of 16.60% and a net margin of 28.61%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis.

RF has been the subject of several other reports. Truist Financial downgraded shares of Regions Financial from a “buy” rating to a “hold” rating and cut their target price for the company from $21.00 to $20.00 in a research note on Monday. JPMorgan Chase & Co. cut their price objective on shares of Regions Financial from $26.00 to $23.00 in a research report on Monday, April 10th. Jefferies Financial Group downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Monday, January 9th. StockNews.com cut shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Regions Financial from $25.00 to $24.00 in a report on Friday, January 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.50.

Regions Financial Trading Down 2.7 %

Shares of NYSE:RF opened at $17.81 on Tuesday. Regions Financial has a 52-week low of $13.94 and a 52-week high of $24.33. The company has a market capitalization of $16.64 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 0.73 and a beta of 1.18. The company has a 50-day simple moving average of $20.02 and a 200 day simple moving average of $21.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.82.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds have recently modified their holdings of the company. CI Investments Inc. lifted its position in Regions Financial by 991.2% during the third quarter. CI Investments Inc. now owns 1,244 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,130 shares during the last quarter. Horan Securities Inc. purchased a new stake in shares of Regions Financial in the first quarter valued at $27,000. MCF Advisors LLC raised its stake in shares of Regions Financial by 2,210.5% in the fourth quarter. MCF Advisors LLC now owns 1,317 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,260 shares during the period. Proficio Capital Partners LLC purchased a new position in Regions Financial in the 1st quarter worth about $30,000. Finally, Harbour Investments Inc. increased its stake in Regions Financial by 715.1% in the 4th quarter. Harbour Investments Inc. now owns 1,891 shares of the bank’s stock worth $41,000 after buying an additional 1,659 shares during the period. 72.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP William D. Ritter sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $23.42, for a total transaction of $304,460.00. Following the completion of the transaction, the executive vice president now directly owns 24,344 shares of the company’s stock, valued at $570,136.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.49%. The ex-dividend date is Thursday, June 1st. Regions Financial’s payout ratio is currently 34.19%.

About Regions Financial

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Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.

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Earnings History and Estimates for Regions Financial (NYSE:RF)

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