Regions Financial (RF) Announces Earnings Results, Beats Estimates By $0.01 EPS
Regions Financial (NYSE:RF) announced its quarterly earnings results on Friday. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01, RTT News reports. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Regions Financial had a net margin of 20.14% and a return on equity of 7.56%. Regions Financial’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 EPS.
Regions Financial (RF) opened at $18.15 on Friday. Regions Financial has a one year low of $13.00 and a one year high of $18.55. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.39. The firm has a market cap of $21,050.00, a P/E ratio of 19.11, a PEG ratio of 1.06 and a beta of 1.30.
Several equities analysts have issued reports on the stock. Barclays upped their target price on shares of Regions Financial from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. Robert W. Baird cut shares of Regions Financial from a “neutral” rating to an “underperform” rating and set a $13.00 target price on the stock. in a research note on Monday, October 2nd. FBR & Co restated a “hold” rating and set a $16.00 target price on shares of Regions Financial in a research note on Wednesday, October 25th. SunTrust Banks restated a “buy” rating and set a $19.00 target price on shares of Regions Financial in a research note on Wednesday, November 29th. Finally, UBS Group upgraded shares of Regions Financial from a “sell” rating to a “neutral” rating and upped their target price for the company from $15.00 to $18.00 in a research note on Tuesday, December 12th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $16.65.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Regions Financial by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 134,473,976 shares of the bank’s stock worth $1,968,699,000 after acquiring an additional 1,742,890 shares in the last quarter. Boston Partners increased its holdings in Regions Financial by 3.7% in the 3rd quarter. Boston Partners now owns 33,692,511 shares of the bank’s stock worth $513,137,000 after acquiring an additional 1,191,474 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Regions Financial by 2.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,430,899 shares of the bank’s stock worth $219,767,000 after acquiring an additional 382,430 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Regions Financial by 8,065.3% in the 2nd quarter. Janus Henderson Group PLC now owns 13,067,310 shares of the bank’s stock worth $191,306,000 after acquiring an additional 12,907,276 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its holdings in Regions Financial by 257.2% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 9,538,317 shares of the bank’s stock worth $145,268,000 after acquiring an additional 6,868,243 shares in the last quarter. 75.27% of the stock is owned by institutional investors.
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About Regions Financial
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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