Zacks: Analysts Expect Regions Financial Corporation (RF) to Post $0.26 EPS
Equities research analysts expect Regions Financial Corporation (NYSE:RF) to post earnings per share of $0.26 for the current quarter, according to Zacks. Twenty Three analysts have issued estimates for Regions Financial Corporation’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.24. Regions Financial Corporation posted earnings of $0.24 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 8.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 17th.
According to Zacks, analysts expect that Regions Financial Corporation will report full year earnings of $1.00 per share for the current year, with EPS estimates ranging from $0.97 to $1.03. For the next year, analysts expect that the business will post earnings of $1.13 per share, with EPS estimates ranging from $1.07 to $1.26. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Regions Financial Corporation.
Regions Financial Corporation (NYSE:RF) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $0.20 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis.
Several analysts have recently issued reports on the company. Instinet upped their price objective on Regions Financial Corporation from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, June 30th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $15.00 price objective on shares of Regions Financial Corporation in a report on Thursday, May 18th. UBS AG reaffirmed a “sell” rating and set a $13.00 price objective (down from $14.00) on shares of Regions Financial Corporation in a report on Saturday, April 22nd. FBR & Co set a $18.00 price objective on Regions Financial Corporation and gave the stock a “buy” rating in a report on Wednesday, April 19th. Finally, Wells Fargo & Company assumed coverage on Regions Financial Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $16.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Regions Financial Corporation has an average rating of “Hold” and an average target price of $14.21.
In related news, Director Susan W. Matlock sold 10,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $15.23, for a total transaction of $152,300.00. Following the completion of the sale, the director now directly owns 32,188 shares in the company, valued at approximately $490,223.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David J. Turner, Jr. sold 65,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $14.95, for a total value of $971,750.00. Following the sale, the chief financial officer now owns 121,160 shares of the company’s stock, valued at $1,811,342. The disclosure for this sale can be found here. Insiders have sold a total of 124,514 shares of company stock valued at $1,846,733 over the last 90 days. 0.52% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its stake in Regions Financial Corporation by 11.1% in the second quarter. The Manufacturers Life Insurance Company now owns 6,824,487 shares of the bank’s stock worth $99,911,000 after buying an additional 680,901 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Regions Financial Corporation during the second quarter worth approximately $1,848,000. Moors & Cabot Inc. boosted its stake in Regions Financial Corporation by 1.8% in the second quarter. Moors & Cabot Inc. now owns 38,785 shares of the bank’s stock worth $567,000 after buying an additional 702 shares during the period. Cubist Systematic Strategies LLC boosted its stake in Regions Financial Corporation by 137.1% in the second quarter. Cubist Systematic Strategies LLC now owns 255,158 shares of the bank’s stock worth $3,736,000 after buying an additional 147,530 shares during the period. Finally, Green Square Capital LLC acquired a new stake in Regions Financial Corporation during the second quarter worth approximately $235,000. Institutional investors own 76.61% of the company’s stock.
Shares of Regions Financial Corporation (NYSE:RF) traded up 1.04% on Tuesday, reaching $14.56. 2,395,423 shares of the company’s stock were exchanged. Regions Financial Corporation has a one year low of $9.37 and a one year high of $16.03. The firm has a market cap of $17.40 billion, a PE ratio of 15.21 and a beta of 1.31. The company has a 50 day moving average price of $14.56 and a 200 day moving average price of $14.47.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.09 per share. This is a boost from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, September 7th. Regions Financial Corporation’s dividend payout ratio is 29.47%.
Regions Financial Corporation announced that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.47 billion in shares. This buyback authorization authorizes the bank to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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Regions Financial Corporation Company Profile
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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