FY2024 EPS Estimates for Regions Financial Co. (NYSE:RF) Reduced by Analyst

Regions Financial Co. (NYSE:RF) – Equities research analysts at Wedbush decreased their FY2024 EPS estimates for shares of Regions Financial in a research note issued on Tuesday, September 24th. Wedbush analyst D. Chiaverini now expects that the bank will earn $1.90 per share for the year, down from their previous estimate of $2.00. 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 $2.01 per share. Wedbush also issued estimates for Regions Financial’s Q1 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.59 EPS, Q1 2026 earnings at $0.59 EPS and Q2 2026 earnings at $0.62 EPS.

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

RF has been the topic of a number of other research reports. Jefferies Financial Group increased their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Citigroup increased their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wells Fargo & Company increased their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Royal Bank of Canada increased their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.06.

Regions Financial Stock Up 0.5 %

RF opened at $23.02 on Thursday. Regions Financial has a twelve month low of $13.72 and a twelve month high of $23.47. The firm’s 50-day simple moving average is $22.16 and its 200-day simple moving average is $20.51. 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 firm has a market cap of $21.08 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.95 and a beta of 1.17.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.34%. Regions Financial’s dividend payout ratio (DPR) is currently 54.35%.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Regions Financial by 78.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,600 shares of the bank’s stock worth $7,467,000 after purchasing an additional 163,600 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Regions Financial during the second quarter worth $1,653,000. Truist Financial Corp lifted its holdings in shares of Regions Financial by 2.1% during the second quarter. Truist Financial Corp now owns 190,853 shares of the bank’s stock worth $3,825,000 after buying an additional 4,001 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in shares of Regions Financial during the second quarter worth $256,000. Finally, Quarry LP lifted its holdings in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

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.