Regions Financial Corp (NYSE:RF) – Piper Jaffray Companies increased their FY2019 EPS estimates for Regions Financial in a research note issued to investors on Sunday, April 21st. Piper Jaffray Companies analyst K. Barker now expects that the bank will post earnings of $1.57 per share for the year, up from their previous forecast of $1.56. Piper Jaffray Companies also issued estimates for Regions Financial’s Q4 2019 earnings at $0.42 EPS, Q1 2020 earnings at $0.38 EPS, Q2 2020 earnings at $0.38 EPS, Q3 2020 earnings at $0.43 EPS and Q4 2020 earnings at $0.45 EPS.
Several other brokerages also recently weighed in on RF. BMO Capital Markets started coverage on shares of Regions Financial in a research note on Tuesday, March 12th. They set an “outperform” rating and a $17.00 target price on the stock. Sandler O’Neill downgraded shares of Regions Financial from a “buy” rating to a “hold” rating and set a $16.41 price objective on the stock. in a research report on Thursday, February 28th. Raymond James dropped their price objective on shares of Regions Financial from $19.50 to $18.00 and set a “strong-buy” rating on the stock in a research report on Monday. UBS Group set a $17.00 price objective on shares of Regions Financial and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Wedbush increased their price objective on shares of Regions Financial from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $17.19.
Regions Financial (NYSE:RF) last announced its earnings results on Thursday, April 18th. The bank reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Regions Financial had a net margin of 26.38% and a return on equity of 10.76%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis.
Several large investors have recently made changes to their positions in the business. Lindbrook Capital LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at $27,000. Legacy Financial Advisors Inc. purchased a new position in shares of Regions Financial in the 4th quarter valued at $30,000. Financial Architects Inc purchased a new position in shares of Regions Financial in the 4th quarter valued at $31,000. Whittier Trust Co. grew its position in shares of Regions Financial by 84.7% in the 4th quarter. Whittier Trust Co. now owns 2,770 shares of the bank’s stock valued at $37,000 after buying an additional 1,270 shares during the last quarter. Finally, Doyle Wealth Management purchased a new position in shares of Regions Financial in the 4th quarter valued at $40,000. 74.38% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Thursday, March 7th. Regions Financial’s dividend payout ratio is presently 41.18%.
Regions Financial Company Profile
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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