DA Davidson Forecasts Reduced Earnings for Regions Financial

Regions Financial Co. (NYSE:RF) – Research analysts at DA Davidson cut their FY2024 EPS estimates for Regions Financial in a note issued to investors on Thursday, December 19th. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $2.08 for the year, down from their previous 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.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Piper Sandler upped their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup increased their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Wedbush increased their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Moderate Buy” and an average price target of $27.61.

Regions Financial Trading Up 0.8 %

Shares of NYSE:RF opened at $24.02 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Regions Financial has a 12-month low of $17.42 and a 12-month high of $27.96. The business has a 50 day moving average of $25.20 and a two-hundred day moving average of $22.77. The company has a market capitalization of $21.83 billion, a PE ratio of 13.57, a PEG ratio of 2.64 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS.

Hedge Funds Weigh In On Regions Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RF. Quarry LP increased its stake in shares of Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock worth $40,000 after acquiring an additional 394 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after purchasing an additional 429 shares during the period. CWM LLC increased its position in Regions Financial by 1.1% during the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock worth $988,000 after purchasing an additional 480 shares during the last quarter. Resonant Capital Advisors LLC raised its stake in Regions Financial by 2.4% during the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock worth $515,000 after purchasing an additional 506 shares during the period. Finally, Centaurus Financial Inc. boosted its holdings in Regions Financial by 5.9% in the 3rd quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank’s stock valued at $228,000 after purchasing an additional 540 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.16%. Regions Financial’s dividend payout ratio is presently 56.50%.

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.