Equities Analysts Offer Predictions for Regions Financial Corporation’s Q1 2018 Earnings (RF)
Regions Financial Corporation (NYSE:RF) – Equities research analysts at Jefferies Group issued their Q1 2018 EPS estimates for Regions Financial Corporation in a report released on Tuesday. Jefferies Group analyst K. Usdin expects that the bank will post earnings of $0.26 per share for the quarter. Jefferies Group has a “Hold” rating and a $16.00 price objective on the stock. Jefferies Group also issued estimates for Regions Financial Corporation’s Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.29 EPS and Q4 2018 earnings at $0.28 EPS.
Regions Financial Corporation (NYSE:RF) last released its earnings results on Friday, July 21st. The bank reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Regions Financial Corporation had a net margin of 20.25% and a return on equity of 7.51%. Regions Financial Corporation’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS.
A number of other equities analysts also recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.50 price target on shares of Regions Financial Corporation in a report on Friday, September 15th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 price target on shares of Regions Financial Corporation in a report on Friday, June 23rd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Regions Financial Corporation in a report on Monday, July 3rd. Citigroup Inc. reaffirmed a “neutral” rating and issued a $16.00 price target (up from $15.00) on shares of Regions Financial Corporation in a report on Monday. Finally, BidaskClub downgraded Regions Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Regions Financial Corporation presently has a consensus rating of “Hold” and a consensus target price of $14.95.
A number of large investors have recently added to or reduced their stakes in RF. FNY Partners Fund LP purchased a new position in Regions Financial Corporation in the first quarter worth $103,000. Lloyds Banking Group plc purchased a new position in Regions Financial Corporation in the second quarter worth $108,000. Seven Eight Capital LP purchased a new position in Regions Financial Corporation in the second quarter worth $111,000. Sun Life Financial INC raised its position in Regions Financial Corporation by 98,133.3% in the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock worth $129,000 after acquiring an additional 8,832 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its position in Regions Financial Corporation by 0.3% in the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock worth $134,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 75.53% of the company’s stock.
In other Regions Financial Corporation news, Director Susan W. Matlock sold 10,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $15.23, for a total value of $152,300.00. Following the completion of the transaction, the director now owns 32,188 shares in the company, valued at $490,223.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Turner, Jr. sold 65,000 shares of the 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 transaction, the chief financial officer now owns 121,160 shares of the company’s stock, valued at approximately $1,811,342. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,514 shares of company stock valued at $1,846,733. Corporate insiders own 0.52% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, September 7th. This is an increase from Regions Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a dividend yield of 2.39%. Regions Financial Corporation’s dividend payout ratio (DPR) is currently 37.89%.
Regions Financial Corporation declared that its board has initiated a stock buyback program on Wednesday, June 28th that allows the company to repurchase $1.47 billion in shares. This repurchase authorization allows the bank to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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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