Wall Street analysts expect that Regions Financial Corp (NYSE:RF) will announce sales of $1.47 billion for the current fiscal quarter, according to Zacks Investment Research. Twenty Three analysts have issued estimates for Regions Financial’s earnings. The lowest sales estimate is $1.45 billion and the highest is $1.49 billion. Regions Financial posted sales of $1.44 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.1%. The business is scheduled to issue its next earnings report on Friday, January 17th.
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On average, analysts expect that Regions Financial will report full-year sales of $5.85 billion for the current fiscal year, with estimates ranging from $5.81 billion to $5.91 billion. For the next financial year, analysts anticipate that the company will post sales of $5.92 billion, with estimates ranging from $5.84 billion to $6.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Regions Financial.
Regions Financial (NYSE:RF) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. Regions Financial had a net margin of 23.78% and a return on equity of 10.88%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year.
Several equities analysts have recently issued reports on the stock. ValuEngine upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. SunTrust Banks cut their price objective on shares of Regions Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Jefferies Financial Group upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $16.00 to $18.00 in a report on Tuesday, October 8th. Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $15.00 to $17.00 in a report on Monday, July 22nd. Finally, Morgan Stanley set a $16.00 price target on shares of Regions Financial and gave the stock a “hold” rating in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Regions Financial currently has an average rating of “Hold” and a consensus target price of $16.74.
In other news, EVP C. Keith Herron sold 69,288 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $14.51, for a total transaction of $1,005,368.88. Following the sale, the executive vice president now owns 232,595 shares of the company’s stock, valued at approximately $3,374,953.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP C. Matthew Lusco sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $16.43, for a total transaction of $328,600.00. Following the sale, the executive vice president now directly owns 163,229 shares in the company, valued at approximately $2,681,852.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,697 shares of company stock worth $1,633,483. 0.28% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. KG&L Capital Management LLC grew its stake in shares of Regions Financial by 6.2% during the 2nd quarter. KG&L Capital Management LLC now owns 50,101 shares of the bank’s stock worth $748,000 after purchasing an additional 2,938 shares during the period. Bessemer Group Inc. lifted its position in shares of Regions Financial by 2,267.8% during the 2nd quarter. Bessemer Group Inc. now owns 242,939 shares of the bank’s stock valued at $3,629,000 after buying an additional 232,679 shares in the last quarter. Lee Danner & Bass Inc. lifted its position in shares of Regions Financial by 70.8% during the 2nd quarter. Lee Danner & Bass Inc. now owns 150,140 shares of the bank’s stock valued at $2,243,000 after buying an additional 62,247 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Regions Financial by 15.5% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 19,438 shares of the bank’s stock valued at $290,000 after buying an additional 2,607 shares in the last quarter. Finally, BB&T Securities LLC lifted its position in shares of Regions Financial by 181.5% during the 2nd quarter. BB&T Securities LLC now owns 333,514 shares of the bank’s stock valued at $4,982,000 after buying an additional 215,029 shares in the last quarter. 71.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of RF traded down $0.03 during mid-day trading on Thursday, hitting $16.88. 6,622,510 shares of the company traded hands, compared to its average volume of 11,533,622. Regions Financial has a 1-year low of $12.39 and a 1-year high of $17.78. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $17.16 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.57 and a beta of 1.56. The business has a 50 day moving average of $15.96 and a 200 day moving average of $15.12.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.62 annualized dividend and a yield of 3.67%. Regions Financial’s dividend payout ratio (DPR) is presently 45.59%.
Regions Financial Company Profile
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding 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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