Wall Street brokerages forecast that Regions Financial Corp (NYSE:RF) will post sales of $1.47 billion for the current quarter, Zacks reports. Twenty Four analysts have provided estimates for Regions Financial’s earnings, with the lowest sales estimate coming in at $1.46 billion and the highest estimate coming in at $1.50 billion. Regions Financial reported sales of $1.46 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.7%. The firm is scheduled to report its next earnings results before the market opens on Tuesday, October 22nd.
According to Zacks, analysts expect that Regions Financial will report full year sales of $5.84 billion for the current financial year, with estimates ranging from $5.80 billion to $5.91 billion. For the next financial year, analysts expect that the firm will report sales of $5.93 billion, with estimates ranging from $5.84 billion to $6.04 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Regions Financial.
Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company earned $0.32 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year.
Regions Financial stock traded up $0.30 during trading on Wednesday, reaching $16.07. The company had a trading volume of 8,955,467 shares, compared to its average volume of 11,692,845. The firm’s 50-day simple moving average is $15.58 and its 200 day simple moving average is $15.00. Regions Financial has a 1-year low of $12.39 and a 1-year high of $17.88. The firm has a market capitalization of $16.03 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.54 and a beta of 1.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.89.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $0.155 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.62 annualized dividend and a dividend yield of 3.86%. Regions Financial’s payout ratio is 45.59%.
Regions Financial declared that its Board of Directors has authorized a stock repurchase plan on Thursday, June 27th that permits the company to buyback $1.37 billion in outstanding shares. This buyback authorization permits the bank to buy up to 9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, EVP C. Matthew Lusco sold 20,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $16.43, for a total transaction of $328,600.00. Following the transaction, the executive vice president now owns 163,229 shares of the company’s stock, valued at approximately $2,681,852.47. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $14.68, for a total transaction of $104,932.64. Following the transaction, the insider now directly owns 34,482 shares in the company, valued at approximately $506,195.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,436 shares of company stock worth $2,024,102. Corporate insiders own 0.28% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Covington Capital Management purchased a new stake in Regions Financial in the 2nd quarter valued at about $25,000. Mcmillion Capital Management Inc. purchased a new stake in Regions Financial in the 2nd quarter valued at about $40,000. Doyle Wealth Management purchased a new stake in Regions Financial in the 2nd quarter valued at about $45,000. Phocas Financial Corp. purchased a new stake in Regions Financial in the 2nd quarter valued at about $46,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Regions Financial in the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 71.60% of the company’s stock.
Regions Financial Company Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding 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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