Regional banking company Regions Financial (NYSE: RF) will be reporting results this Friday before market open. Here’s what to look for.
Regions Financial met analysts’ revenue expectations last quarter, reporting revenues of $1.93 billion, up 4.1% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and tangible book value per share in line with analysts’ estimates.
Is Regions Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Regions Financial’s revenue to grow 5.4% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Regions Financial has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Regions Financial’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. First Horizon delivered year-on-year revenue growth of 6.1%, missing analysts’ expectations by 0.8%, and Home Bancshares reported revenues up 3%, falling short of estimates by 2.5%.
Read our full analysis of First Horizon’s results here and Home Bancshares’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 9.1% on average over the last month. Regions Financial is up 10.4% during the same time and is heading into earnings with an average analyst price target of $29.92 (compared to the current share price of $28.10).
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