Regions Financial (NYSE:RF) Posts Earnings Results, Beats Expectations By $0.05 EPS

Regions Financial (NYSE:RF) announced its earnings results on Friday. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05, FiscalAI reports. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the company posted $0.60 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis.

Regions Financial Price Performance

Regions Financial stock opened at $32.35 on Friday. The company’s fifty day moving average price is $28.87 and its 200 day moving average price is $28.22. Regions Financial has a 1 year low of $22.70 and a 1 year high of $32.47. The stock has a market capitalization of $27.61 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.22 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.7%. Regions Financial’s payout ratio is 44.17%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DA Davidson lowered shares of Regions Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $33.00 in a research report on Monday, July 6th. Robert W. Baird reaffirmed an “underperform” rating and set a $28.00 price objective on shares of Regions Financial in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on shares of Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research note on Monday, July 6th. Truist Financial reissued a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st. Finally, Cantor Fitzgerald increased their price target on Regions Financial from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average price target of $31.28.

Insiders Place Their Bets

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Several institutional investors have recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in Regions Financial during the 2nd quarter worth about $25,000. DV Equities LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at about $33,000. Ameriflex Group Inc. grew its position in shares of Regions Financial by 112.2% during the fourth quarter. Ameriflex Group Inc. now owns 1,901 shares of the bank’s stock worth $52,000 after buying an additional 1,005 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Regions Financial during the second quarter worth about $63,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Regions Financial during the second quarter worth approximately $74,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.