Regions Financial Co. (NYSE:RF - Free Report) - Equities research analysts at DA Davidson dropped their FY2024 earnings per share estimates for Regions Financial in a research report issued on Thursday, December 19th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings of $2.08 per share for the year, down from their prior forecast of $2.10. DA Davidson currently has a "Buy" rating and a $29.00 price target on the stock. The consensus estimate for Regions Financial's current full-year earnings is $2.12 per share. DA Davidson also issued estimates for Regions Financial's FY2025 earnings at $2.28 EPS.
Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the business posted $0.49 earnings per share. The business's revenue was down 3.7% on a year-over-year basis.
Several other brokerages have also weighed in on RF. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Citigroup upped their price target on Regions Financial from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Wells Fargo & Company increased their price target on Regions Financial from $24.00 to $28.00 and gave the stock an "equal weight" rating in a report on Friday, November 15th. Truist Financial boosted their price objective on Regions Financial from $25.00 to $26.00 and gave the company a "hold" rating in a report on Monday, October 21st. Finally, Compass Point upped their target price on Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.61.
Check Out Our Latest Research Report on RF
Shares of RF stock opened at $23.77 on Monday. Regions Financial has a fifty-two week low of $17.42 and a fifty-two week high of $27.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50 day simple moving average of $25.20 and a two-hundred day simple moving average of $22.74. The company has a market cap of $21.60 billion, a P/E ratio of 13.43, a PEG ratio of 2.64 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Monday, December 2nd. Regions Financial's payout ratio is 56.50%.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in shares of Regions Financial by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,087,697 shares of the bank's stock worth $25,376,000 after purchasing an additional 34,125 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Regions Financial by 3.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 17,233 shares of the bank's stock worth $403,000 after buying an additional 584 shares during the last quarter. Forthright Family Wealth Advisory LLC bought a new stake in shares of Regions Financial in the third quarter valued at $181,000. Logan Capital Management Inc. purchased a new position in shares of Regions Financial during the 3rd quarter valued at $2,195,000. Finally, Franklin Resources Inc. grew its stake in shares of Regions Financial by 30.9% during the 3rd quarter. Franklin Resources Inc. now owns 702,627 shares of the bank's stock worth $16,758,000 after acquiring an additional 165,710 shares during the period. Hedge funds and other institutional investors own 79.39% of the company's stock.
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.
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