Regions Financial (NYSE:RF) Releases Earnings Results, Misses Expectations By $0.04 EPS

Regions Financial (NYSE:RF) issued its earnings results on Friday. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04), Zacks reports. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share.

Regions Financial Stock Performance

Shares of RF opened at $28.53 on Friday. The firm has a market cap of $25.02 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.00 and a beta of 1.03. The company’s fifty day moving average is $26.64 and its 200-day moving average is $25.94. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27. Regions Financial has a 12 month low of $17.74 and a 12 month high of $29.25.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stephens restated an “equal weight” rating and set a $27.00 price objective (down from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Morgan Stanley set a $32.00 price objective on shares of Regions Financial in a research report on Monday, September 29th. Citigroup increased their target price on shares of Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $29.21.

Regions Financial announced that its board has approved a stock buyback program on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Regions Financial

Hedge funds have recently bought and sold shares of the business. CIBC Bancorp USA Inc. bought a new position in Regions Financial during the third quarter valued at about $3,253,000. Captrust Financial Advisors raised its stake in shares of Regions Financial by 5.2% in the 3rd quarter. Captrust Financial Advisors now owns 122,366 shares of the bank’s stock valued at $3,227,000 after acquiring an additional 6,021 shares in the last quarter. Danske Bank A S acquired a new stake in Regions Financial in the 3rd quarter worth approximately $10,711,000. Advisory Services Network LLC lifted its holdings in Regions Financial by 6.7% in the 3rd quarter. Advisory Services Network LLC now owns 18,426 shares of the bank’s stock worth $486,000 after purchasing an additional 1,153 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in Regions Financial by 0.8% during the third quarter. Kestra Private Wealth Services LLC now owns 169,749 shares of the bank’s stock worth $4,476,000 after purchasing an additional 1,321 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.