Regions Financial Co. (NYSE:RF – Get Rating) shares gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $18.89, but opened at $18.38. Regions Financial shares last traded at $18.12, with a volume of 2,717,337 shares.
The bank reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.07). Regions Financial had a net margin of 29.81% and a return on equity of 16.14%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year.
Regions Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Thursday, June 1st. Regions Financial’s dividend payout ratio (DPR) is presently 35.24%.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. StockNews.com cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Tuesday. Truist Financial cut their target price on Regions Financial from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 23rd. Wells Fargo & Company lowered their price target on Regions Financial from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, April 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Regions Financial from $25.00 to $24.00 in a report on Friday, January 6th. Finally, Barclays decreased their price target on shares of Regions Financial from $29.00 to $23.00 in a report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.68.
Insider Activity at Regions Financial
In related news, EVP C. Matthew Lusco sold 100,000 shares of the company’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $22.83, for a total value of $2,283,000.00. Following the sale, the executive vice president now owns 77,843 shares of the company’s stock, valued at $1,777,155.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP William D. Ritter sold 13,000 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $23.42, for a total value of $304,460.00. Following the sale, the executive vice president now owns 24,344 shares of the company’s stock, valued at approximately $570,136.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP C. Matthew Lusco sold 100,000 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $22.83, for a total value of $2,283,000.00. Following the completion of the sale, the executive vice president now directly owns 77,843 shares in the company, valued at approximately $1,777,155.69. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Regions Financial
Several institutional investors have recently added to or reduced their stakes in the company. PFG Advisors lifted its holdings in Regions Financial by 13.4% during the 1st quarter. PFG Advisors now owns 12,575 shares of the bank’s stock valued at $233,000 after purchasing an additional 1,489 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Regions Financial by 45.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 30,754 shares of the bank’s stock valued at $571,000 after purchasing an additional 9,550 shares in the last quarter. Smithbridge Asset Management Inc. DE increased its holdings in Regions Financial by 13.3% during the 1st quarter. Smithbridge Asset Management Inc. DE now owns 166,103 shares of the bank’s stock valued at $3,083,000 after purchasing an additional 19,548 shares in the last quarter. Counterpoint Mutual Funds LLC increased its holdings in Regions Financial by 128.4% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 11,039 shares of the bank’s stock valued at $205,000 after purchasing an additional 6,206 shares in the last quarter. Finally, Stonegate Investment Group LLC grew its holdings in Regions Financial by 2.8% during the 1st quarter. Stonegate Investment Group LLC now owns 180,190 shares of the bank’s stock worth $3,344,000 after acquiring an additional 4,964 shares during the last quarter. 72.87% of the stock is owned by institutional investors.
Regions Financial Trading Down 2.1 %
The business’s fifty day simple moving average is $20.36 and its 200 day simple moving average is $21.44. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.16. The stock has a market cap of $17.29 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 0.74 and a beta of 1.18.
Regions Financial Company Profile
Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, Wealth Management, and Other.