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Regions (RF) Q3 Earnings Meet Expectations, Revenues Up Y/Y
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Have you been eager to see how Regions Financial Corporation (RF - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this AL-based popular bank’s earnings release this morning:
In Line Earnings
Regions Financial came out with earnings per share of 25 cents, in line with the Zacks Consensus Estimate. A rise in revenues and lower expenses were offset by elevated provisions.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Regions Financial depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained stable over the last seven days.
Also, Regions has an impressive earnings surprise history. Before posting in-line earnings in Q3, the company delivered positive surprises in all the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.89% in the trailing four quarters.
Regions Financial Corporation Price and EPS Surprise
Regions Financial posted adjusted total revenues of $1.42 billion, lagging the Zacks Consensus Estimate of $1.45 billion. It was above the year-ago number of $1.4 billion by 1.9%.
Key Stats:
Net Income from continuing operations: $296 million in Q3, down from $303 million in the prior year quarter
Net interest margin (FTE): 3.36%, up from 3.06% in prior year quarter
Provision for loan losses more than doubled to $76 million from the year-ago quarter
Growth in capital markets revenue, slight increase in mortgage, wealth management and card & ATM fees are expected to accelerate non-interest income in Q4
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) for Regions Financial. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. It all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Regions Financial earnings report!
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Regions (RF) Q3 Earnings Meet Expectations, Revenues Up Y/Y
Have you been eager to see how Regions Financial Corporation (RF - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this AL-based popular bank’s earnings release this morning:
In Line Earnings
Regions Financial came out with earnings per share of 25 cents, in line with the Zacks Consensus Estimate. A rise in revenues and lower expenses were offset by elevated provisions.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Regions Financial depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained stable over the last seven days.
Also, Regions has an impressive earnings surprise history. Before posting in-line earnings in Q3, the company delivered positive surprises in all the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.89% in the trailing four quarters.
Regions Financial Corporation Price and EPS Surprise
Regions Financial Corporation Price and EPS Surprise | Regions Financial Corporation Quote
Revenue Came In Lower Than Expected
Regions Financial posted adjusted total revenues of $1.42 billion, lagging the Zacks Consensus Estimate of $1.45 billion. It was above the year-ago number of $1.4 billion by 1.9%.
Key Stats:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) for Regions Financial. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. It all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Regions Financial earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>