FY2024 EPS Estimates for Regions Financial Co. (NYSE:RF) Cut by Analyst

Regions Financial Co. (NYSE:RF - Free Report) - Equities researchers at DA Davidson cut their FY2024 earnings estimates for Regions Financial in a report released on Monday, April 22nd. DA Davidson analyst P. Winter now expects that the bank will earn $1.97 per share for the year, down from their previous forecast of $2.00. The consensus estimate for Regions Financial's current full-year earnings is $1.95 per share.

Several other brokerages have also recently issued reports on RF. Barclays restated an "underweight" rating and issued a $22.00 target price (up previously from $20.00) on shares of Regions Financial in a report on Tuesday, January 2nd. StockNews.com cut shares of Regions Financial from a "hold" rating to a "sell" rating in a report on Tuesday, February 6th. Truist Financial dropped their target price on shares of Regions Financial from $22.00 to $20.00 and set a "hold" rating on the stock in a report on Monday. Morgan Stanley dropped their target price on shares of Regions Financial from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Royal Bank of Canada raised their target price on shares of Regions Financial from $19.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.17.

Regions Financial Stock Up 2.1 %

Shares of RF traded up $0.40 on Wednesday, hitting $19.75. 11,018,001 shares of the stock traded hands, compared to its average volume of 8,829,525. The company has a market capitalization of $18.15 billion, a PE ratio of 10.63, a P/E/G ratio of 1.40 and a beta of 1.21. 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 business has a 50 day simple moving average of $19.36 and a 200 day simple moving average of $18.05. Regions Financial has a one year low of $13.72 and a one year high of $21.08.

Regions Financial (NYSE:RF - Get Free Report) 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 net margin of 19.75% and a return on equity of 13.28%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior 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 Investors Weigh In On Regions Financial

Several hedge funds have recently modified their holdings of the business. Whittier Trust Co. raised its stake in shares of Regions Financial by 16.5% during the 4th quarter. Whittier Trust Co. now owns 3,881 shares of the bank's stock worth $75,000 after acquiring an additional 549 shares in the last quarter. CWM LLC lifted its holdings in Regions Financial by 1.4% during the first quarter. CWM LLC now owns 41,137 shares of the bank's stock valued at $866,000 after purchasing an additional 556 shares in the last quarter. Signet Financial Management LLC lifted its holdings in Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank's stock valued at $262,000 after purchasing an additional 584 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in Regions Financial by 0.4% during the fourth quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank's stock valued at $2,797,000 after purchasing an additional 606 shares in the last quarter. Finally, MV Capital Management Inc. lifted its holdings in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank's stock valued at $30,000 after purchasing an additional 618 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

Insider Buying and Selling at Regions Financial

In related news, Director William C. Rhodes III acquired 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was bought at an average cost of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.24 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.96 annualized dividend and a yield of 4.86%. Regions Financial's dividend payout ratio (DPR) is 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.