Brokerages expect Regions Financial Corp (NYSE:RF) to post sales of $1.47 billion for the current quarter, Zacks reports. Twenty Three analysts have made estimates for Regions Financial’s earnings, with the highest sales estimate coming in at $1.49 billion and the lowest estimate coming in at $1.45 billion. Regions Financial reported sales of $1.44 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.1%. The business is expected to announce its next quarterly earnings results on Friday, January 17th.
According to Zacks, analysts expect that Regions Financial will report full year sales of $5.85 billion for the current financial year, with estimates ranging from $5.81 billion to $5.91 billion. For the next year, analysts anticipate that the firm will post sales of $5.92 billion, with estimates ranging from $5.84 billion to $6.04 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Regions Financial.
Regions Financial (NYSE:RF) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Regions Financial had a net margin of 23.78% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share.
A number of research analysts have weighed in on the stock. Citigroup cut shares of Regions Financial from a “neutral” rating to a “sell” rating and dropped their target price for the company from $16.00 to $14.00 in a research note on Tuesday, October 8th. SunTrust Banks dropped their target price on shares of Regions Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Raymond James set a $18.50 target price on shares of Regions Financial and gave the company a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley set a $16.00 target price on shares of Regions Financial and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, UBS Group boosted their target price on shares of Regions Financial from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $16.74.
RF traded down $0.03 during midday trading on Thursday, reaching $16.88. The company had a trading volume of 6,622,510 shares, compared to its average volume of 11,533,622. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $17.16 billion, a PE ratio of 12.41, a P/E/G ratio of 1.57 and a beta of 1.56. Regions Financial has a 12-month low of $12.39 and a 12-month high of $17.78. The business has a 50-day moving average price of $15.96 and a two-hundred day moving average price of $15.12.
The firm 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 $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Thursday, December 5th. Regions Financial’s dividend payout ratio (DPR) is currently 45.59%.
In other news, EVP C. Keith Herron sold 69,288 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $14.51, for a total value of $1,005,368.88. Following the sale, the executive vice president now owns 232,595 shares of the company’s stock, valued at $3,374,953.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Hardie B. Kimbrough, Jr. sold 18,409 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $16.27, for a total transaction of $299,514.43. Following the completion of the sale, the insider now directly owns 20,009 shares in the company, valued at approximately $325,546.43. The disclosure for this sale can be found here. In the last three months, insiders sold 107,697 shares of company stock worth $1,633,483. Insiders own 0.28% of the company’s stock.
A number of institutional investors have recently bought and sold shares of RF. Nuveen Asset Management LLC increased its holdings in Regions Financial by 3,639.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,056,945 shares of the bank’s stock worth $90,490,000 after acquiring an additional 5,894,957 shares during the period. Invesco Ltd. increased its holdings in Regions Financial by 68.9% during the 2nd quarter. Invesco Ltd. now owns 10,444,676 shares of the bank’s stock worth $156,043,000 after acquiring an additional 4,259,901 shares during the period. Bank of America Corp DE increased its holdings in Regions Financial by 20.6% during the 2nd quarter. Bank of America Corp DE now owns 12,704,955 shares of the bank’s stock worth $189,812,000 after acquiring an additional 2,172,240 shares during the period. Point72 Asset Management L.P. bought a new stake in Regions Financial during the 2nd quarter worth approximately $22,677,000. Finally, CWM LLC increased its holdings in Regions Financial by 6,461.9% during the 2nd quarter. CWM LLC now owns 986,117 shares of the bank’s stock worth $14,733,000 after acquiring an additional 971,089 shares during the period. 71.42% of the stock is currently owned by institutional investors and hedge funds.
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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