Regions Financial (NYSE:RF) Releases Quarterly Earnings Results

Regions Financial (NYSE:RF) released its earnings results on Thursday. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03, RTT News reports. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same period last year, the firm earned $0.37 earnings per share.

Regions Financial Stock Down 1.2 %

Shares of RF opened at $19.20 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock’s 50-day moving average price is $21.79 and its 200-day moving average price is $23.60. Regions Financial has a 52 week low of $17.72 and a 52 week high of $27.96. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.93 and a beta of 1.01.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.21%. Regions Financial’s dividend payout ratio is currently 51.55%.

Insiders Place Their Bets

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders bought 3,343 shares of company stock worth $74,348. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on RF shares. Wells Fargo & Company cut their target price on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Morgan Stanley reduced their price objective on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Truist Financial reduced their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Citigroup reduced their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, Barclays lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.42.

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.