- Total deposits were $126.90 billion, slightly below the estimate of $127.57 billion.
- Total loans reached $97.28 billion, surpassing the estimate of $96.23 billion.
- Net interest income FTE was $1.20 billion, which was above the expected $1.18 billion.
- The FTE net interest margin came in at 3.51%, beating the estimate of 3.47%.
- Earnings per share (EPS) stood at 52 cents.
- The Common Equity Tier 1 ratio was 10.4%, just under the estimate of 10.5%.
- Adjusted revenue was $1.78 billion, slightly ahead of the $1.77 billion estimate.
- Non-interest income was $545 million, below the estimate of $583.9 million.
- Net charge-offs were $101 million, which was better than the estimated $117.1 million.
- Non-interest expenses were $1.00 billion, better than the estimate of $1.02 billion.
- The provision for credit losses was $102 million, significantly below the estimated $136.9 million.
Comments:
- Incident levels have normalized to expected levels.
- The company anticipates operational losses of approximately $100 million for the full year 2024.
- “Our teams delivered solid second-quarter results driven by the successful execution of Regions’ business strategies.”
Analyst Ratings:
- 9 buys
- 16 holds
- 1 sell
“`
A look at Regions Financial Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Regions Financial Corporation, a regional multi-bank holding company, presents a promising long-term outlook based on its strong Smartkarma Smart Scores. With a notable Value score of 4, Regions Financial is considered fundamentally sound in terms of its financial health and market valuation. Alongside its solid Dividend score of 4, indicating consistent and attractive dividend payouts, investors can find appeal in the company’s dividend yield potential.
Additionally, the company’s Resilience score of 4 highlights its ability to weather economic uncertainties and challenges, making it a relatively safe investment choice. The Momentum score of 4 suggests positive market momentum, reflecting growing investor interest and confidence. While the Growth score of 3 is slightly lower, Regions Financial‘s diversified range of financial services across key regions in the United States positions it well for sustainable growth in the long run.
Summary:
Regions Financial Corporation is a regional multi-bank holding company that offers a range of financial services, including mortgage banking, insurance, leasing, and securities brokerage. Operating mainly in the South, Midwest, and Eastern United States, Regions Financial is well-positioned to leverage its established presence and Smartkarma Smart Scores to drive steady performance and value for investors.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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