Regions Financial Corporation (RF) Issues Earnings Results
Regions Financial Corporation (NYSE:RF) announced its earnings results on Tuesday. The bank reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25, MarketWatch Earnings reports. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial Corporation had a return on equity of 7.51% and a net margin of 20.25%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share.
Shares of Regions Financial Corporation (NYSE:RF) opened at 15.12 on Tuesday. Regions Financial Corporation has a 52 week low of $10.32 and a 52 week high of $16.03. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of 15.80 and a beta of 1.34. The stock has a 50 day moving average price of $14.54 and a 200-day moving average price of $14.31.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.36 annualized dividend and a yield of 2.38%. Regions Financial Corporation’s dividend payout ratio is currently 37.89%.
Several research firms have recently weighed in on RF. Jefferies Group LLC reissued a “hold” rating and issued a $16.00 price objective on shares of Regions Financial Corporation in a research report on Friday, August 11th. Instinet increased their price objective on Regions Financial Corporation from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, June 30th. Vining Sparks raised Regions Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 26th. Piper Jaffray Companies reissued a “hold” rating and issued a $14.50 price objective on shares of Regions Financial Corporation in a research report on Thursday, August 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.50 price objective on shares of Regions Financial Corporation in a research report on Wednesday, August 16th. Four equities 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 stock. Regions Financial Corporation currently has a consensus rating of “Hold” and an average price target of $14.95.
Regions Financial Corporation announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that allows the company to repurchase $1.47 billion in shares. This repurchase authorization allows the bank to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
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In other news, 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 transaction of $971,750.00. Following the completion of the sale, the chief financial officer now directly owns 121,160 shares in the company, valued at approximately $1,811,342. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Susan W. Matlock sold 10,000 shares of the company’s 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 sale, the director now owns 32,188 shares of the company’s stock, valued at $490,223.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,689 shares of company stock valued at $1,324,046. Corporate insiders own 0.52% of the company’s stock.
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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