DA Davidson Weighs in on Regions Financial Co.’s FY2024 Earnings (NYSE:RF)

Regions Financial Co. (NYSE:RF) – Equities research analysts at DA Davidson reduced their FY2024 earnings per share (EPS) estimates for shares of Regions Financial in a report issued on Monday, April 22nd. DA Davidson analyst P. Winter now forecasts that the bank will earn $1.97 per share for the year, down from their prior forecast of $2.00. The consensus estimate for Regions Financial’s current full-year earnings is $1.95 per share.

RF has been the topic of several other research reports. Truist Financial cut their price objective on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday. Evercore ISI raised their target price on Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Stephens restated an “equal weight” rating and issued a $21.00 target price on shares of Regions Financial in a research report on Tuesday, January 23rd. Finally, StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.17.

Regions Financial Trading Up 0.8 %

RF opened at $19.34 on Wednesday. The stock has a market capitalization of $17.77 billion, a PE ratio of 10.51, a P/E/G ratio of 1.40 and a beta of 1.21. The firm’s fifty day moving average price is $19.36 and its 200 day moving average price is $18.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. Regions Financial has a 12-month low of $13.72 and a 12-month high of $21.08.

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

Regions Financial Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, May 31st. This represents a $0.96 annualized dividend and a yield of 4.96%. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

Institutional Investors Weigh In On Regions Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Silver Lake Advisory LLC raised its position in shares of Regions Financial by 8.9% during the first quarter. Silver Lake Advisory LLC now owns 215,836 shares of the bank’s stock worth $4,541,000 after purchasing an additional 17,681 shares during the period. Community Financial Services Group LLC purchased a new stake in Regions Financial during the first quarter valued at about $599,000. Amalgamated Bank boosted its holdings in shares of Regions Financial by 4.2% in the first quarter. Amalgamated Bank now owns 244,109 shares of the bank’s stock worth $5,136,000 after buying an additional 9,823 shares during the period. Cigna Investments Inc. New acquired a new stake in shares of Regions Financial during the first quarter valued at approximately $210,000. Finally, Confluence Wealth Services Inc. lifted its position in shares of Regions Financial by 7.2% in the 1st 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. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

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.