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

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

Regions Financial Stock Performance

RF stock opened at $23.82 on Friday. The company has a 50-day simple moving average of $22.65 and a 200 day simple moving average of $20.88. The company has a market capitalization of $21.81 billion, a P/E ratio of 12.95, a PEG ratio of 2.80 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $24.47.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio is currently 54.35%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RF shares. Wells Fargo & Company boosted their price target on Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods cut their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Evercore ISI raised their price target on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. StockNews.com cut shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Bank of America raised their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.