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

Regions Financial Co. (NYSE:RF) – Research analysts at Wedbush lowered their Q3 2024 earnings estimates for Regions Financial in a report released on Friday, April 19th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings of $0.52 per share for the quarter, down from their previous forecast 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.

RF has been the subject of several other reports. Jefferies Financial Group raised shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $22.00 in a report on Tuesday, January 9th. Citigroup raised shares of Regions Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $23.00 in a report on Monday, March 18th. Royal Bank of Canada boosted their price objective on shares of Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Argus cut shares of Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, Evercore ISI upped their target price on shares of Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.17.

Regions Financial Stock Up 0.8 %

Shares of Regions Financial stock opened at $19.34 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market capitalization of $17.77 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. Regions Financial has a 52-week low of $13.72 and a 52-week high of $21.08. The company has a 50-day simple moving average of $19.36 and a two-hundred day simple moving average of $18.05.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds have recently modified their holdings of the company. Advisor Resource Council purchased a new position in Regions Financial during the fourth quarter valued at $1,944,000. Vestmark Advisory Solutions Inc. grew its stake in Regions Financial by 126.3% during the third quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank’s stock valued at $455,000 after acquiring an additional 14,756 shares in the last quarter. abrdn plc grew its stake in Regions Financial by 17.0% during the fourth quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock valued at $45,546,000 after acquiring an additional 341,878 shares in the last quarter. LPL Financial LLC grew its stake in Regions Financial by 19.6% during the third quarter. LPL Financial LLC now owns 582,491 shares of the bank’s stock valued at $10,019,000 after acquiring an additional 95,271 shares in the last quarter. Finally, Vaughan David Investments LLC IL grew its stake in Regions Financial by 48.9% during the fourth quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank’s stock valued at $47,886,000 after acquiring an additional 811,174 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.96%. Regions Financial’s payout ratio is currently 52.17%.

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.