Regions Financial Co. to Post Q3 2024 Earnings of $0.52 Per Share, Wedbush Forecasts (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Stock analysts at Wedbush decreased their Q3 2024 earnings estimates for Regions Financial in a research report issued to clients and investors on Friday, April 19th. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $0.52 per share for the quarter, down from their prior estimate of $0.54. The consensus estimate for Regions Financial’s current full-year earnings is $1.97 per share. Wedbush also issued estimates for Regions Financial’s Q4 2024 earnings at $0.53 EPS, FY2024 earnings at $1.91 EPS and Q1 2025 earnings at $0.53 EPS.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 EPS.

RF has been the subject of several other research reports. Barclays reissued an “underweight” rating and issued a $22.00 price target (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Truist Financial increased their price target on shares of Regions Financial from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, April 1st. Jefferies Financial Group raised shares of Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $15.00 to $22.00 in a research report on Tuesday, January 9th. StockNews.com lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Citigroup raised shares of Regions Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.39.

Regions Financial Stock Down 0.5 %

Shares of RF opened at $18.90 on Monday. The company has a 50-day simple moving average of $19.32 and a 200-day simple moving average of $18.01. The firm has a market capitalization of $17.37 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.36 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial has a 52 week low of $13.72 and a 52 week high of $21.08.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.08%. Regions Financial’s dividend payout ratio (DPR) is currently 52.17%.

Institutional Trading of Regions Financial

Several hedge funds have recently modified their holdings of RF. Norges Bank acquired a new position in Regions Financial in the fourth quarter valued at approximately $210,379,000. First Trust Advisors LP lifted its holdings in Regions Financial by 296.5% in the first quarter. First Trust Advisors LP now owns 10,552,656 shares of the bank’s stock valued at $234,902,000 after buying an additional 7,891,037 shares during the period. Wellington Management Group LLP lifted its holdings in Regions Financial by 8.4% in the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after buying an additional 4,160,768 shares during the period. Bahl & Gaynor Inc. lifted its holdings in Regions Financial by 162.1% in the third quarter. Bahl & Gaynor Inc. now owns 5,904,595 shares of the bank’s stock valued at $101,559,000 after buying an additional 3,651,390 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Regions Financial by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after buying an additional 3,119,237 shares during the period. 79.39% of the stock is owned by institutional investors.

Regions Financial Company Profile

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.