Regions Financial (NYSE:RF) Issues Earnings Results
Regions Financial (NYSE:RF) reported quarterly earnings of $0.54 EPS, exceeding analysts' expectations of $0.51. The bank's return on equity was 12.83% with a net margin of 20.20%. The company also announced a quarterly dividend of $0.25, yielding 5.18%. Analysts have mixed ratings on the stock, with a moderate buy average rating and a price target of $26.42. Recent insider transactions show increased ownership by Director Joia M. Johnson. Regions Financial operates in corporate banking, consumer banking, and wealth management.
Regions Financial (NYSE:RF - Get Free Report) issued its quarterly earnings data on Thursday. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03, RTT News reports. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. During the same quarter in the previous year, the business earned $0.37 EPS.
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Regions Financial Stock Performance
- 3 Regional Bank Stocks to Buy on Relaxed Regulations
RF stock opened at $19.29 on Thursday. Regions Financial has a 1-year low of $17.72 and a 1-year high of $27.96. The business's 50-day moving average price is $21.79 and its two-hundred day moving average price is $23.60. The firm has a market cap of $17.47 billion, a PE ratio of 9.96, a P/E/G ratio of 1.93 and a beta of 1.01. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.
Regions Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.18%. Regions Financial's dividend payout ratio is currently 51.55%.
Wall Street Analysts Forecast Growth
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Several equities analysts have issued reports on RF shares. Truist Financial cut their price objective on Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Wells Fargo & Company decreased their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Morgan Stanley reduced their target price on shares of Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Citigroup lowered their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $26.42.
Check Out Our Latest Research Report on RF
Insider Transactions at Regions Financial
- Challenges Loom for Regional Banks as Interest Rates Surge
In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, with a total value of $48,714.00. Following the purchase, the director now owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 3,343 shares of company stock valued at $74,348 over the last 90 days. 0.29% of the stock is owned by company insiders.
Regions Financial Company Profile
(Get Free Report)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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