DA Davidson Comments on Regions Financial Co.'s Q2 2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF - Free Report) - Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Regions Financial in a research note issued on Monday, April 22nd. DA Davidson analyst P. Winter anticipates that the bank will post earnings of $0.48 per share for the quarter. The consensus estimate for Regions Financial's current full-year earnings is $1.97 per share. DA Davidson also issued estimates for Regions Financial's FY2025 earnings at $2.19 EPS.

Several other research analysts also recently issued reports on RF. StockNews.com downgraded Regions Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, February 6th. Royal Bank of Canada lifted their price objective on Regions Financial from $19.00 to $21.00 and gave the stock an "outperform" rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods lifted their price objective 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. Jefferies Financial Group upgraded Regions Financial from a "hold" rating to a "buy" rating and boosted their price target for the company from $15.00 to $22.00 in a report on Tuesday, January 9th. Finally, Morgan Stanley cut their price target on Regions Financial from $27.00 to $25.00 and set an "overweight" rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.17.

Regions Financial Price Performance

Shares of NYSE:RF traded up $0.16 during trading on Tuesday, hitting $19.34. 10,539,465 shares of the stock were exchanged, compared to its average volume of 8,801,468. The company has a fifty day moving average price of $19.33 and a two-hundred day moving average price of $18.03. The company has a market cap of $17.77 billion, a PE ratio of 10.43, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Regions Financial has a 12-month low of $13.72 and a 12-month high of $21.08.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data 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 net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.75 billion. During the same period in the prior year, the firm posted $0.62 EPS. Regions Financial's revenue for the quarter was down 10.5% compared to the same quarter last year.

Institutional Investors Weigh In On Regions Financial

A number of hedge funds have recently made changes to their positions in RF. Moisand Fitzgerald Tamayo LLC bought a new stake in Regions Financial during the third quarter worth approximately $26,000. Laurel Wealth Advisors LLC raised its holdings in Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank's stock worth $27,000 after purchasing an additional 649 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in Regions Financial during the fourth quarter worth approximately $28,000. Sound Income Strategies LLC raised its holdings in Regions Financial by 103.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank's stock worth $29,000 after purchasing an additional 750 shares in the last quarter. Finally, Glassman Wealth Services raised its holdings in Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank's stock worth $30,000 after purchasing an additional 967 shares in the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.96%. Regions Financial's dividend payout ratio (DPR) is presently 52.17%.

Regions Financial Company Profile

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.