Regions Financial Corp (RF) announced its most recent quarterly financial results on Tuesday, Oct-18-2016. RF said it had a profit of $0.24 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.21. The company posted revenue of $1400.00 million in the period, compared to analysts expectations of $1386.14 million. RF’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.
Many Wall Street Analysts have commented on Regions Financial Corp. FBR & Co. Downgraded Regions Financial Corp on Oct 11, 2016 to ” Mkt Perform”, Price Target of the shares are set at $10.50.Wedbush Initiated Regions Financial Corp on Oct 7, 2016 to “Outperform”, Price Target of the shares are set at $12.Regions Financial Corp was Downgraded by Bernstein to ” Mkt Perform” on Aug 16, 2016.
Regions Financial Corp opened for trading at $10.06 and hit $10.22 on the upside on Friday, eventually ending the session at $10.05, with a gain of 1.01% or 0.1 points. The heightened volatility saw the trading volume jump to 1,50,93,793 shares. Company has a market cap of $12,615 M.
Investors should note that on Oct 13, 2016, Regions Financial Corp announced a cash dividend of $0.0650. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Jan 3, 2017.
In a different news, on Aug 30, 2016, Scott M. Peters (SEVP) sold 23,391 shares at $9.73 per share price. According to the SEC, on Aug 19, 2016, Ellen S. Jones (SEVP) sold 10,000 shares at $9.53 per share price. On Aug 19, 2016, David R. Keenan (SEVP) sold 65,000 shares at $9.57 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The Company carries out its business in three segments: Corporate Bank Consumer Bank and Wealth Management. The Corporate Bank segment represents the Companys commercial banking functions including commercial and industrial commercial real estate and investor real estate lending. The Consumer Bank segment represents the Companys branch network including consumer banking products and services related to residential first mortgages home equity lines and loans and small business loans among others. The Wealth Management segment offers individuals businesses Governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.