Regions Financial (NYSE:RF) Posts Earnings Results

Key Points

• Regions Financial reported earnings of $0.63 per share for the quarter, exceeding the consensus estimate of $0.60, with revenues of $1.94 billion, slightly above the expected $1.93 billion.
• The company announced a quarterly dividend of $0.265 per share, representing a 4.5% yield, with an ex-dividend date of December 1st.
• Despite positive earnings, shares of Regions Financial fell 5.7% on the day of the earnings announcement, indicating potential investor concerns or market reactions.

Regions Financial (NYSE:RF - Get Free Report) issued its quarterly earnings data on Friday. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03, Zacks reports. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.93 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. During the same quarter in the prior year, the business earned $0.49 EPS.

Regions Financial Stock Down 5.7%

Shares of RF opened at $23.33 on Friday. The business's 50 day moving average is $26.25 and its 200 day moving average is $23.66. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial has a 12-month low of $17.74 and a 12-month high of $27.96. The company has a market capitalization of $20.82 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, December 1st. Regions Financial's dividend payout ratio (DPR) is 49.30%.

Wall Street Analysts Forecast Growth

RF has been the topic of several recent research reports. Wall Street Zen upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Citigroup raised their target price on Regions Financial from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Evercore ISI boosted their price target on Regions Financial from $28.00 to $29.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. Barclays reaffirmed an "underweight" rating and issued a $27.00 price objective (up previously from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Finally, DA Davidson boosted their price objective on Regions Financial from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Regions Financial currently has an average rating of "Moderate Buy" and an average target price of $27.79.

Insider Activity at Regions Financial

In related news, Director Roger W. Jenkins bought 4,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average cost of $25.48 per share, with a total value of $101,920.00. Following the completion of the purchase, the director owned 6,383 shares of the company's stock, valued at approximately $162,638.84. The trade was a 167.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total transaction of $750,300.00. Following the completion of the sale, the executive vice president owned 90,915 shares in the company, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On Regions Financial

Several institutional investors have recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in Regions Financial in the 2nd quarter worth approximately $25,000. MUFG Securities EMEA plc purchased a new position in shares of Regions Financial in the second quarter valued at $63,000. Headlands Technologies LLC bought a new stake in Regions Financial in the second quarter worth $74,000. Kestra Investment Management LLC raised its stake in Regions Financial by 80.6% during the second quarter. Kestra Investment Management LLC now owns 3,349 shares of the bank's stock valued at $79,000 after purchasing an additional 1,495 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Regions Financial by 21.8% during the second quarter. Geneos Wealth Management Inc. now owns 8,197 shares of the bank's stock valued at $193,000 after purchasing an additional 1,466 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company's stock.

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.

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