Regions Financial (NYSE:RF) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Regions Financial (NYSE:RF) released its earnings results on Friday. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04), RTT News reports. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share.

Regions Financial Price Performance

RF stock opened at $23.99 on Friday. Regions Financial has a one year low of $13.72 and a one year high of $24.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average of $22.58 and a 200-day moving average of $20.86. The stock has a market capitalization of $21.97 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 4.17%. Regions Financial’s dividend payout ratio is currently 54.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RF shares. Evercore ISI lifted their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Truist Financial boosted their price target on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Citigroup lifted their target price on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Wedbush upgraded Regions Financial from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $23.00 to $28.00 in a report on Tuesday, September 24th. Finally, Morgan Stanley lifted their price objective on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average target price of $22.86.

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.