Regions Financial (NYSE:RF) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Regions Financial (NYSE:RF) announced its earnings results on Friday. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03, RTT News reports. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share.

Regions Financial Price Performance

Shares of RF opened at $22.09 on Monday. The firm has a market cap of $20.23 billion, a PE ratio of 12.01, a P/E/G ratio of 2.53 and a beta of 1.18. Regions Financial has a 1-year low of $13.72 and a 1-year high of $22.64. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $19.60 and a two-hundred day simple moving average of $19.31.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s payout ratio is 52.17%.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director William C. Rhodes III purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was bought at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Piper Sandler upped their target price on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Jefferies Financial Group increased their target price on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Evercore ISI decreased their price objective on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Finally, StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.39.

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.