Regions Financial Analysts Cut Their Forecasts After Q3 Results

Regions Financial Corp (NYSE:RF) reported upbeat earnings for the third quarter on Monday.

The company posted quarterly earnings of 73 cents per share which beat the analyst consensus estimate of 66 cents per share. The company reported quarterly sales of $1.988 billion which beat the analyst consensus estimate of $1.986 billion.

John Turner, Chairman, President and CEO of Regions Financial Corp said, “At Regions Bank, we’re seeing the benefits of the investments we’re making in talent, technology and strategic growth. By remaining disciplined in our approach to risk management and staying committed to soundness, profitability, and growth, we are delivering strong results built on solid fundamentals and a competitive strategy. Strong credit quality, continued momentum in fee-based businesses, and economically vibrant markets throughout our footprint all contributed to our third quarter results. As we continue to modernize the franchise and expand our capabilities, Regions Bank is well positioned to meet the evolving needs of our customers and drive more sustainable growth over time.”

Regions Finl shares fell 0.8% to trade at $27.24 on Monday.

These analysts made changes to their price targets on Regions Financial following earnings announcement.

• Stephens & Co. analyst Russell Gunther maintained the stock with an Equal-Weight rating and lowered the price target from $32 to $30.
• RBC Capital analyst Gerard Cassidy maintained the stock with an Outperform rating and lowered the price target from $34 to $32.

Considering buying RF stock? Here’s what analysts think:

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