Regions Financial (NYSE:RF) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Regions Financial (NYSE:RF - Get Free Report) posted its earnings results on Friday. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04, RTT News reports. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm's quarterly revenue was up 10.1% compared to the same quarter last year.

Regions Financial Trading Up 5.4%

Regions Financial stock traded up $1.32 during trading hours on Friday, reaching $25.83. 9,924,462 shares of the company's stock traded hands, compared to its average volume of 8,385,406. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial has a fifty-two week low of $17.74 and a fifty-two week high of $27.96. The firm has a market capitalization of $23.21 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.80 and a beta of 0.98. The firm's 50 day moving average is $22.68 and its 200-day moving average is $22.41.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 4.10%. Regions Financial's dividend payout ratio is presently 48.08%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RF. Cowen began coverage on shares of Regions Financial in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Stephens reaffirmed an "overweight" rating and issued a $24.00 target price on shares of Regions Financial in a report on Tuesday, June 3rd. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. TD Cowen initiated coverage on shares of Regions Financial in a report on Thursday, May 15th. They issued a "buy" rating and a $31.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Regions Financial in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $26.15.

Institutional Trading of Regions Financial

A hedge fund recently raised its stake in Regions Financial stock. Empowered Funds LLC raised its position in Regions Financial Corporation (NYSE:RF - Free Report) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,152 shares of the bank's stock after purchasing an additional 1,278 shares during the period. Empowered Funds LLC's holdings in Regions Financial were worth $416,000 as of its most recent filing with the SEC. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

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.

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