Regions Financial Co. (NYSE:RF) – Analysts at Truist Securiti boosted their Q4 2020 earnings per share estimates for Regions Financial in a research note issued to investors on Tuesday, October 20th. Truist Securiti analyst J. Demba now forecasts that the bank will post earnings per share of $0.40 for the quarter, up from their prior estimate of $0.29. Truist Securiti also issued estimates for Regions Financial’s Q1 2021 earnings at $0.38 EPS, Q2 2021 earnings at $0.37 EPS, Q3 2021 earnings at $0.39 EPS, Q4 2021 earnings at $0.40 EPS, Q1 2022 earnings at $0.39 EPS, Q2 2022 earnings at $0.41 EPS, Q3 2022 earnings at $0.44 EPS and FY2022 earnings at $1.67 EPS.
Other analysts also recently issued reports about the company. Credit Suisse Group upped their target price on Regions Financial from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday. ValuEngine upgraded Regions Financial from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. TheStreet upgraded Regions Financial from a “c” rating to a “b” rating in a research report on Tuesday. SunTrust Banks cut their target price on Regions Financial from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. upped their target price on Regions Financial from $11.50 to $13.50 and gave the company an “overweight” rating in a research 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 assigned a strong buy rating to the company. Regions Financial currently has a consensus rating of “Buy” and an average price target of $13.33.
Regions Financial (NYSE:RF) last released its quarterly earnings results on Tuesday, October 20th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.16. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.50 billion. Regions Financial had a return on equity of 5.10% and a net margin of 11.32%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 4th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $0.62 dividend on an annualized basis and a yield of 4.80%. Regions Financial’s payout ratio is presently 40.00%.
Institutional investors and hedge funds have recently modified their holdings of the business. Provident Wealth Management LLC acquired a new position in Regions Financial in the 3rd quarter worth about $35,000. Kore Private Wealth LLC increased its holdings in Regions Financial by 442.8% in the 2nd quarter. Kore Private Wealth LLC now owns 3,235 shares of the bank’s stock worth $35,000 after purchasing an additional 2,639 shares in the last quarter. CSat Investment Advisory L.P. grew its position in shares of Regions Financial by 36.0% in the 2nd 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 during the last quarter. Ellevest Inc. grew its position in shares of Regions Financial by 332.0% in the 2nd quarter. Ellevest Inc. now owns 5,586 shares of the bank’s stock valued at $62,000 after buying an additional 4,293 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of Regions Financial by 65.5% in the 2nd 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 during the last quarter. 73.35% of the stock is owned by institutional investors and hedge funds.
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.
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