Q3 2024 Earnings Forecast for Regions Financial Co. (NYSE:RF) Issued By Wedbush

Regions Financial Co. (NYSE:RFFree Report) – Stock analysts at Wedbush decreased their Q3 2024 earnings estimates for Regions Financial in a report released on Friday, April 19th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $0.52 per share for the quarter, down from their prior estimate of $0.54. The consensus estimate for Regions Financial’s current full-year earnings is $1.97 per share. Wedbush also issued estimates for Regions Financial’s Q4 2024 earnings at $0.53 EPS, FY2024 earnings at $1.91 EPS and Q1 2025 earnings at $0.53 EPS.

Regions Financial (NYSE:RFGet Free Report) last released its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the company earned $0.62 EPS. Regions Financial’s quarterly revenue was down 10.5% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on RF. Argus lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Jefferies Financial Group raised shares of Regions Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $15.00 to $22.00 in a report on Tuesday, January 9th. Keefe, Bruyette & Woods upped their target price on shares of Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Stephens reissued an “equal weight” rating and issued a $21.00 price objective on shares of Regions Financial in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada lifted their target price on shares of Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.17.

Read Our Latest Stock Report on Regions Financial

Regions Financial Price Performance

Regions Financial stock opened at $19.34 on Monday. Regions Financial has a 52-week low of $13.72 and a 52-week high of $21.08. The firm has a market capitalization of $17.77 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.37 and a beta of 1.21. The company has a fifty day simple moving average of $19.36 and a 200-day simple moving average of $18.05. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

Institutional Trading of Regions Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after acquiring an additional 1,951,026 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock worth $346,922,000 after acquiring an additional 618,384 shares in the last quarter. Invesco Ltd. grew its stake in shares of Regions Financial by 15.1% in the third quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock worth $190,682,000 after acquiring an additional 1,455,499 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Regions Financial in the fourth quarter worth $210,379,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.96 annualized dividend and a yield of 4.96%. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

About Regions Financial

(Get Free Report)

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.

See Also

Earnings History and Estimates for Regions Financial (NYSE:RF)

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