Regions Financial Co. (NYSE:RF) – Research analysts at Wedbush increased their Q4 2020 earnings estimates for Regions Financial in a research note issued on Wednesday, October 21st. Wedbush analyst P. Winter now forecasts that the bank will earn $0.41 per share for the quarter, up from their previous forecast of $0.34. Wedbush also issued estimates for Regions Financial’s Q2 2021 earnings at $0.38 EPS, Q3 2021 earnings at $0.35 EPS and FY2021 earnings at $1.49 EPS.
Several other equities analysts also recently issued reports on the stock. Credit Suisse Group lifted their price target on shares of Regions Financial from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday. Wolfe Research began coverage on shares of Regions Financial in a report on Friday, July 31st. They set an “outperform” rating for the company. TheStreet raised shares of Regions Financial from a “c” rating to a “b” rating in a report on Tuesday. ValuEngine raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Regions Financial from $11.50 to $13.50 and gave the company an “overweight” rating in a report on Tuesday, October 6th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $13.33.
Regions Financial (NYSE:RF) last released its quarterly earnings data on Tuesday, October 20th. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.50 billion. Regions Financial had a net margin of 11.32% and a return on equity of 5.10%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the firm earned $0.39 EPS.
Several large investors have recently modified their holdings of RF. Provident Wealth Management LLC acquired a new position in Regions Financial during the third quarter valued at approximately $35,000. Kore Private Wealth LLC lifted its stake in Regions Financial by 442.8% in the second quarter. Kore Private Wealth LLC now owns 3,235 shares of the bank’s stock valued at $35,000 after buying an additional 2,639 shares in the last quarter. CSat Investment Advisory L.P. lifted its stake in Regions Financial by 36.0% in the second quarter. CSat Investment Advisory L.P. now owns 5,059 shares of the bank’s stock valued at $56,000 after buying an additional 1,338 shares in the last quarter. Ellevest Inc. lifted its stake in Regions Financial by 332.0% in the second quarter. Ellevest Inc. now owns 5,586 shares of the bank’s stock valued at $62,000 after buying an additional 4,293 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Regions Financial by 65.5% in the second quarter. Rockefeller Capital Management L.P. now owns 5,787 shares of the bank’s stock valued at $64,000 after buying an additional 2,291 shares in the last quarter. Institutional investors own 73.35% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 4th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Thursday, December 3rd. Regions Financial’s dividend payout ratio is 40.00%.
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.
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