Regions Financial (RF) Issues Earnings Results, Beats Estimates By $0.01 EPS
Regions Financial (NYSE:RF) issued its quarterly earnings data on Friday. The bank reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01, RTT News reports. Regions Financial had a return on equity of 7.56% and a net margin of 20.14%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year.
Shares of Regions Financial (NYSE:RF) opened at $18.15 on Friday. Regions Financial has a 52-week low of $13.00 and a 52-week high of $18.55. The company has a market capitalization of $21,297.07, a price-to-earnings ratio of 18.91, a PEG ratio of 1.06 and a beta of 1.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.84 and a current ratio of 0.85.
A number of equities analysts recently issued reports on the company. Royal Bank of Canada reissued a “hold” rating and issued a $16.00 price objective on shares of Regions Financial in a report on Wednesday, October 25th. SunTrust Banks reissued a “buy” rating and issued a $19.00 price objective on shares of Regions Financial in a report on Wednesday, November 29th. Piper Jaffray Companies restated a “hold” rating and issued a $17.00 target price on shares of Regions Financial in a research report on Tuesday, January 9th. ValuEngine downgraded Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, UBS Group upgraded Regions Financial from a “sell” rating to a “neutral” rating and upped their target price for the stock from $15.00 to $18.00 in a research report on Tuesday, December 12th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.65.
Several large investors have recently made changes to their positions in RF. Seven Eight Capital LP purchased a new stake in shares of Regions Financial in the second quarter valued at $111,000. Sun Life Financial INC lifted its holdings in shares of Regions Financial by 98,133.3% in the second quarter. Sun Life Financial INC now owns 8,841 shares of the bank’s stock valued at $129,000 after purchasing an additional 8,832 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Regions Financial by 0.3% in the second quarter. Salem Investment Counselors Inc. now owns 9,124 shares of the bank’s stock valued at $134,000 after purchasing an additional 26 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Regions Financial in the third quarter valued at $150,000. Finally, Pax World Management LLC purchased a new stake in shares of Regions Financial in the third quarter valued at $154,000. Institutional investors own 75.27% of the company’s stock.
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Regions Financial 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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