Equities research analysts forecast that Regions Financial Corp (NYSE:RF) will report sales of $1.48 billion for the current fiscal quarter, according to Zacks Investment Research. Twenty Five analysts have provided estimates for Regions Financial’s earnings, with estimates ranging from $1.46 billion to $1.50 billion. Regions Financial posted sales of $1.44 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The company is scheduled to announce its next quarterly earnings report on Friday, July 19th.
On average, analysts expect that Regions Financial will report full year sales of $5.92 billion for the current fiscal year, with estimates ranging from $5.85 billion to $5.96 billion. For the next fiscal year, analysts forecast that the firm will report sales of $6.02 billion, with estimates ranging from $5.90 billion to $6.11 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Regions Financial.
Regions Financial (NYSE:RF) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. Regions Financial had a return on equity of 10.76% and a net margin of 26.38%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business earned $0.35 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on the company. Wedbush lowered Regions Financial from an “outperform” rating to a “neutral” rating and set a $17.00 target price for the company. in a research note on Monday, February 4th. They noted that the move was a valuation call. Credit Suisse Group assumed coverage on Regions Financial in a research note on Monday, February 11th. They issued a “neutral” rating and a $17.00 target price for the company. Barclays reissued a “sell” rating and issued a $17.00 target price on shares of Regions Financial in a research note on Thursday, February 21st. FIG Partners reissued a “market-perform” rating on shares of Regions Financial in a research note on Thursday, February 21st. Finally, Sandler O’Neill lowered Regions Financial from a “buy” rating to a “hold” rating and set a $16.41 target price for the company. in a research note on Thursday, February 28th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $17.19.
In other Regions Financial news, COO John B. Owen sold 61,756 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $15.25, for a total transaction of $941,779.00. Following the completion of the transaction, the chief operating officer now owns 127,152 shares of the company’s stock, valued at approximately $1,939,068. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David R. Keenan sold 30,877 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $15.50, for a total value of $478,593.50. Following the transaction, the executive vice president now directly owns 24,321 shares of the company’s stock, valued at approximately $376,975.50. The disclosure for this sale can be found here. Insiders have sold a total of 123,510 shares of company stock valued at $1,889,394 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RF. JPMorgan Chase & Co. raised its position in Regions Financial by 17.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,054,121 shares of the bank’s stock valued at $367,993,000 after purchasing an additional 3,013,569 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Regions Financial by 7.0% during the 3rd quarter. Nordea Investment Management AB now owns 4,416,464 shares of the bank’s stock worth $81,041,000 after acquiring an additional 290,367 shares during the period. Legal & General Group Plc grew its holdings in shares of Regions Financial by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 5,441,118 shares of the bank’s stock worth $99,893,000 after acquiring an additional 71,861 shares during the period. Morgan Stanley grew its holdings in shares of Regions Financial by 61.7% during the 3rd quarter. Morgan Stanley now owns 6,996,887 shares of the bank’s stock worth $128,394,000 after acquiring an additional 2,670,907 shares during the period. Finally, Great Lakes Advisors LLC purchased a new position in shares of Regions Financial during the 3rd quarter worth approximately $313,000. 74.07% of the stock is owned by institutional investors and hedge funds.
RF opened at $14.95 on Thursday. Regions Financial has a 12-month low of $12.39 and a 12-month high of $19.99. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.90. The stock has a market capitalization of $15.41 billion, a PE ratio of 10.99, a PEG ratio of 1.15 and a beta of 1.49.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, June 6th. Regions Financial’s payout ratio is 41.18%.
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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