DA Davidson Comments on Regions Financial Co.’s Q2 2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Regions Financial in a note issued to investors on Monday, April 22nd. DA Davidson analyst P. Winter anticipates that the bank will earn $0.48 per share for the quarter. The consensus estimate for Regions Financial’s current full-year earnings is $1.97 per share. DA Davidson also issued estimates for Regions Financial’s FY2025 earnings at $2.19 EPS.

A number of other brokerages have also recently commented on RF. Morgan Stanley lowered their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday. Truist Financial reduced their price target on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday. Citigroup raised Regions Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $20.00 to $23.00 in a research note on Monday, March 18th. Barclays reissued an “underweight” rating and set a $22.00 price target (up previously from $20.00) on shares of Regions Financial in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods increased their price target on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.17.

Regions Financial Stock Performance

RF opened at $19.34 on Tuesday. The stock has a market cap of $17.77 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $19.36 and its 200 day simple moving average is $18.05. Regions Financial has a 1-year low of $13.72 and a 1-year high of $21.08.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Silver Lake Advisory LLC raised its position in Regions Financial by 8.9% in the first quarter. Silver Lake Advisory LLC now owns 215,836 shares of the bank’s stock valued at $4,541,000 after purchasing an additional 17,681 shares during the period. Community Financial Services Group LLC acquired a new stake in shares of Regions Financial during the first quarter valued at about $599,000. Amalgamated Bank grew its stake in shares of Regions Financial by 4.2% during the first quarter. Amalgamated Bank now owns 244,109 shares of the bank’s stock valued at $5,136,000 after acquiring an additional 9,823 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in shares of Regions Financial during the first quarter valued at about $210,000. Finally, Confluence Wealth Services Inc. grew its stake in shares of Regions Financial by 7.2% during the first quarter. Confluence Wealth Services Inc. now owns 39,375 shares of the bank’s stock valued at $828,000 after acquiring an additional 2,635 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

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.