Analysts Anticipate Regions Financial Corp (NYSE:RF) Will Announce Quarterly Sales of $1.48 Billion
Wall Street brokerages expect that Regions Financial Corp (NYSE:RF) will report $1.48 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Twenty Four analysts have provided estimates for Regions Financial’s earnings. The highest sales estimate is $1.50 billion and the lowest is $1.46 billion. Regions Financial posted sales of $1.46 billion during the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The company is expected to report its next earnings results on Tuesday, October 22nd.
According to Zacks, analysts expect that Regions Financial will report full-year sales of $5.85 billion for the current fiscal year, with estimates ranging from $5.80 billion to $5.94 billion. For the next year, analysts anticipate that the company will report sales of $5.96 billion, with estimates ranging from $5.86 billion to $6.06 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Regions Financial.
Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Regions Financial had a net margin of 26.43% and a return on equity of 10.86%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business earned $0.32 earnings per share. Regions Financial’s revenue was down .1% compared to the same quarter last year.
In related news, insider Hardie B. Kimbrough, Jr. sold 7,148 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $14.68, for a total transaction of $104,932.64. Following the completion of the sale, the insider now directly owns 34,482 shares in the company, valued at $506,195.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO John B. Owen sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $14.63, for a total transaction of $585,200.00. Following the sale, the chief operating officer now owns 87,152 shares of the company’s stock, valued at $1,275,033.76. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. KG&L Capital Management LLC boosted its stake in Regions Financial by 6.2% in the 2nd quarter. KG&L Capital Management LLC now owns 50,101 shares of the bank’s stock worth $748,000 after purchasing an additional 2,938 shares during the period. Lee Danner & Bass Inc. boosted its stake in Regions Financial by 70.8% in the 2nd quarter. Lee Danner & Bass Inc. now owns 150,140 shares of the bank’s stock worth $2,243,000 after purchasing an additional 62,247 shares during the period. Country Club Trust Company n.a. boosted its stake in Regions Financial by 13.5% in the 1st quarter. Country Club Trust Company n.a. now owns 448,875 shares of the bank’s stock worth $6,352,000 after purchasing an additional 53,319 shares during the period. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in Regions Financial by 2.3% in the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 48,520 shares of the bank’s stock worth $687,000 after purchasing an additional 1,100 shares during the period. Finally, American Asset Management Inc. acquired a new position in Regions Financial in the 1st quarter worth approximately $261,000. Hedge funds and other institutional investors own 71.89% of the company’s stock.
Shares of NYSE:RF traded down $0.09 during trading hours on Thursday, hitting $13.57. The stock had a trading volume of 14,389,823 shares, compared to its average volume of 12,241,277. The stock’s fifty day simple moving average is $15.08 and its 200 day simple moving average is $15.06. Regions Financial has a 1-year low of $12.39 and a 1-year high of $19.99. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.32 and a beta of 1.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.89.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This is a boost from Regions Financial’s previous quarterly dividend of $0.14. This represents a $0.62 annualized dividend and a dividend yield of 4.57%. Regions Financial’s dividend payout ratio (DPR) is 41.18%.
Regions Financial declared that its board has initiated a stock repurchase plan on Thursday, June 27th that authorizes the company to repurchase $1.37 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
About Regions Financial
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers in the United States. 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 services; corresponding 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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