Have you been eager to see how Regions Financial Corporation (RF - Free Report) performed in Q2 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:
Earnings Rises Y/Y
Regions Financial came out with adjusted earnings per share of 21 cents, reflecting 10.5% year over year growth on higher revenues. The Zacks Consensus Estimate was 20 cents.
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 at 20 cents over the last 7 days.
Also, Regions has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.70% in the trailing four quarters.
Revenue Came In Higher Than Expected
Regions Financial posted total revenues of $1,389 million, which outpaced the Zacks Consensus Estimate of $1,371 million. Moreover, it compared favorably with the year-ago number of $ 1,333 million.
Key Stats:
- Net Income: $275 million in Q2, down from $285 million in the prior year quarter.
- Net interest margin (FTE) from continuing operations: 3.15%, down from 3.16% in prior year quarter.
- Period end loans: up 2% year over year to $81.7 billion in Q2.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) 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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Have you been eager to see how Regions Financial Corporation (RF - Free Report) performed in Q2 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:
Earnings Rises Y/Y
Regions Financial came out with adjusted earnings per share of 21 cents, reflecting 10.5% year over year growth on higher revenues. The Zacks Consensus Estimate was 20 cents.
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 at 20 cents over the last 7 days.
Also, Regions has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.70% in the trailing four quarters.
Revenue Came In Higher Than Expected
Regions Financial posted total revenues of $1,389 million, which outpaced the Zacks Consensus Estimate of $1,371 million. Moreover, it compared favorably with the year-ago number of $ 1,333 million.
Key Stats:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) 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!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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