FY2024 Earnings Estimate for Regions Financial Co. (NYSE:RF) Issued By Wedbush

Regions Financial Co. (NYSE:RF) – Analysts at Wedbush boosted their FY2024 earnings estimates for Regions Financial in a research note issued to investors on Wednesday, October 9th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $2.02 per share for the year, up from their previous estimate of $1.90. Wedbush currently has a “Outperform” rating and a $28.00 target price on the stock. The consensus estimate for Regions Financial’s current full-year earnings is $2.02 per share.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS.

A number of other equities research analysts have also recently weighed in on the company. Truist Financial upped their price objective on Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Bank of America raised their price target on shares of Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Wells Fargo & Company boosted their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Citigroup increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.86.

Regions Financial Stock Down 0.2 %

Regions Financial stock opened at $23.04 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a market cap of $21.08 billion, a P/E ratio of 13.02, a P/E/G ratio of 2.80 and a beta of 1.17. The business has a fifty day moving average of $22.26 and a two-hundred day moving average of $20.74. Regions Financial has a twelve month low of $13.72 and a twelve month high of $23.47.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.34%. Regions Financial’s dividend payout ratio (DPR) is currently 56.50%.

Institutional Trading of Regions Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC grew its holdings 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 acquiring an additional 480 shares during the period. IFG Advisory LLC increased its holdings in shares of Regions Financial by 1.8% during the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock valued at $620,000 after purchasing an additional 546 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Regions Financial by 0.6% in the 1st quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after purchasing an additional 551 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of Regions Financial by 2.8% in the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after purchasing an additional 565 shares during the period. Finally, Signet Financial Management LLC boosted its holdings in Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after buying an additional 584 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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.