Regions Financial (NYSE:RF) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Regions Financial (NYSE:RF) issued its quarterly earnings results on Friday. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08), RTT News reports. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. Regions Financial’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 earnings per share.

Regions Financial Price Performance

Shares of RF opened at $18.13 on Friday. The firm has a fifty day simple moving average of $19.30 and a two-hundred day simple moving average of $17.97. The firm has a market cap of $16.66 billion, a PE ratio of 9.09, a P/E/G ratio of 1.36 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. Regions Financial has a 1-year low of $13.72 and a 1-year high of $21.08.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Monday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 45.93%.

Institutional Trading of Regions Financial

Several large investors have recently modified their holdings of the company. 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 acquiring an additional 3,119,237 shares during the period. State Street Corp lifted its stake in shares of Regions Financial by 0.4% in the 1st quarter. State Street Corp now owns 50,312,924 shares of the bank’s stock worth $943,529,000 after purchasing an additional 189,323 shares during the period. Morgan Stanley boosted its holdings in shares of Regions Financial by 16.1% in the fourth quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock worth $435,275,000 after buying an additional 2,802,291 shares during the last quarter. Geode Capital Management LLC grew its position in Regions Financial by 1.4% during the first quarter. Geode Capital Management LLC now owns 19,884,039 shares of the bank’s stock valued at $368,222,000 after buying an additional 275,489 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Regions Financial by 3.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 16,271,811 shares of the bank’s stock valued at $362,211,000 after buying an additional 536,935 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Regions Financial from $21.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Barclays reaffirmed an “underweight” rating and set a $22.00 target price (up previously from $20.00) on shares of Regions Financial in a research note on Tuesday, January 2nd. Royal Bank of Canada boosted their price target on Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Stephens reaffirmed an “equal weight” rating and set a $21.00 price objective on shares of Regions Financial in a research report on Tuesday, January 23rd. Finally, Truist Financial boosted their target price on Regions Financial from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, April 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.39.

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.