Regions Financial (NYSE:RF) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Regions Financial (NYSE:RFGet Rating) announced its quarterly earnings data on Friday. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06, RTT News reports. Regions Financial had a net margin of 32.85% and a return on equity of 14.07%. During the same period in the previous year, the business earned $0.77 earnings per share.

Regions Financial Trading Up 1.4 %

NYSE RF opened at $20.65 on Monday. The company’s fifty day simple moving average is $19.95 and its 200-day simple moving average is $21.73. Regions Financial has a 52 week low of $18.01 and a 52 week high of $25.57. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.16. The stock has a market cap of $19.30 billion, a P/E ratio of 9.30, a PEG ratio of 0.31 and a beta of 1.28.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.20 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Thursday, September 1st. Regions Financial’s payout ratio is currently 30.63%.

Analyst Ratings Changes

RF has been the subject of a number of research reports. Raymond James upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Thursday, July 7th. Keefe, Bruyette & Woods upgraded shares of Regions Financial from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $24.00 to $26.00 in a research report on Thursday, June 2nd. Jefferies Financial Group cut their target price on shares of Regions Financial from $24.00 to $22.00 in a research report on Monday, July 11th. Wolfe Research cut their target price on shares of Regions Financial from $24.00 to $20.00 and set a “peer perform” rating for the company in a research report on Thursday, May 26th. Finally, Wells Fargo & Company upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $24.00 to $26.00 in a research report on Monday, April 11th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.93.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its holdings in Regions Financial by 41.7% in the first quarter. Parkside Financial Bank & Trust now owns 2,505 shares of the bank’s stock valued at $56,000 after acquiring an additional 737 shares in the last quarter. Covestor Ltd raised its holdings in Regions Financial by 89.1% in the first quarter. Covestor Ltd now owns 3,755 shares of the bank’s stock valued at $84,000 after acquiring an additional 1,769 shares in the last quarter. SVB Wealth LLC acquired a new stake in Regions Financial in the first quarter valued at $248,000. Toroso Investments LLC raised its holdings in Regions Financial by 10.2% in the first quarter. Toroso Investments LLC now owns 12,022 shares of the bank’s stock valued at $268,000 after acquiring an additional 1,112 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Regions Financial during the first quarter worth $305,000. 74.90% of the stock is owned by institutional investors and hedge funds.

About Regions Financial

(Get Rating)

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

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Earnings History for Regions Financial (NYSE:RF)

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