Regions Financial (NYSE:RF) reported its earnings on July 19. The bank earned $0.52 per share, surpassing expectations of $0.49. Its revenue was $1.73 billion, slightly below the $1.76 billion forecast. Year-over-year, earnings fell from $0.59 per share, and quarterly revenue dropped by 11.5%. Analysts predict earnings of $2 per share for this and next fiscal year.
Price Performance
Regions Financial shares opened at $23.76 on Wednesday. The stock’s 52-week range is $13.72 to $24.33. The company has a market cap of $21.76 billion and a P/E ratio of 12.91. Its 50-day moving average is $22.45, and the 200-day average is $20.81.
Analyst Opinions
Recent analyst reports have been positive. Wedbush upgraded the stock to “outperform” with a target of $28. Citigroup raised its target to $26 with a “buy” rating. StockNews.com moved the stock from “sell” to “hold.” Bank of America set a target of $25 with a “neutral” rating. Goldman Sachs increased its target to $28, also with a “buy” rating. Currently, 1 analyst rates it a sell, 12 a hold, and 6 a buy, leading to an average “Hold” rating with a target price of $22.86.
Check Out Our Latest Report on Regions Financial
Company Profile
Regions Financial Corp. is a financial holding company providing various banking services to individuals and businesses. Its operations include corporate banking, consumer banking, and wealth management.
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