Analysts Anticipate Regions Financial Corporation (RF) Will Post Quarterly Sales of $1.45 Billion
Brokerages predict that Regions Financial Corporation (NYSE:RF) will post $1.45 billion in sales for the current quarter, according to Zacks. Twenty Three analysts have made estimates for Regions Financial Corporation’s earnings, with the highest sales estimate coming in at $1.48 billion and the lowest estimate coming in at $1.42 billion. Regions Financial Corporation reported sales of $1.43 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.4%. The business is expected to announce its next quarterly earnings results on Tuesday, October 17th.
According to Zacks, analysts expect that Regions Financial Corporation will report full-year sales of $1.45 billion for the current year, with estimates ranging from $5.62 billion to $5.77 billion. For the next fiscal year, analysts expect that the business will post sales of $5.96 billion per share, with estimates ranging from $5.84 billion to $6.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Regions Financial Corporation.
Regions Financial Corporation (NYSE:RF) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm posted $0.20 EPS. Regions Financial Corporation’s quarterly revenue was up 2.0% compared to the same quarter last year.
A number of equities analysts recently commented on the company. Bank of America Corporation upgraded Regions Financial Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $17.00 in a research report on Thursday, May 4th. Argus downgraded Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research report on Monday, May 1st. Rafferty Capital Markets downgraded Regions Financial Corporation from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research report on Thursday, April 20th. Jefferies Group LLC reiterated a “hold” rating and set a $16.00 price objective on shares of Regions Financial Corporation in a research report on Friday, May 5th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Regions Financial Corporation in a research report on Monday, July 3rd. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Regions Financial Corporation presently has a consensus rating of “Hold” and an average price target of $14.63.
Shares of Regions Financial Corporation (NYSE:RF) opened at 14.34 on Thursday. The company’s 50-day moving average price is $14.59 and its 200 day moving average price is $14.46. Regions Financial Corporation has a 12-month low of $9.37 and a 12-month high of $16.03. The stock has a market cap of $17.14 billion, a price-to-earnings ratio of 14.98 and a beta of 1.31.
Regions Financial Corporation announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that permits the company to repurchase $1.47 billion in shares. This repurchase authorization permits the bank to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, September 7th. 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 2.51%. Regions Financial Corporation’s payout ratio is presently 29.47%.
In other news, CFO David J. Turner, Jr. sold 65,000 shares of Regions Financial Corporation 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 completion of the sale, the chief financial officer now directly owns 121,160 shares of the company’s stock, valued at $1,811,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan W. Matlock sold 10,000 shares of Regions Financial Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $15.23, for a total value of $152,300.00. Following the completion of the sale, the director now directly owns 32,188 shares of the company’s stock, valued at $490,223.24. The disclosure for this sale can be found here. Insiders sold 124,514 shares of company stock valued at $1,846,733 over the last ninety days. Insiders own 0.52% of the company’s stock.
Large investors have recently modified their holdings of the stock. FNY Partners Fund LP purchased a new stake in shares of Regions Financial Corporation during the first quarter worth $103,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Regions Financial Corporation by 10.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,184 shares of the bank’s stock worth $104,000 after buying an additional 666 shares during the last quarter. Lloyds Banking Group plc purchased a new stake in shares of Regions Financial Corporation during the second quarter worth $108,000. Seven Eight Capital LP purchased a new stake in shares of Regions Financial Corporation during the second quarter worth $111,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Regions Financial Corporation by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,703 shares of the bank’s stock worth $126,000 after buying an additional 28 shares during the last quarter. 76.61% of the stock is owned by institutional investors and hedge funds.
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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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