Analysts Reflect Mixed Views On Regions Financial Post Q2 Results: Revised Price Targets And EPS Estimates

Some analysts lowered estimates for Regions Financial Corp RF following mixed Q2 2023 results. 

Last week, Regions Financial clocked revenue growth of 12% Y/Y in Q2 FY23 to $1.957 billion, beating the consensus of $1.95 billion, while the company reported EPS of $0.59, in line with the consensus.

DA Davidson analyst raised the price target to $23 from $21, maintaining a Buy rating.

Also, Morgan Stanley upped the price target to $26 from $25 with an Overweight rating. 

Meanwhile, at an Outperform rating, RBC Capital and Wedbush analysts maintained the price targets at $23 and $22, respectively.  

RBC Capital Analyst Gerard Cassidy revised EPS estimates to $2.42 (from $2.36) for 2023 and $2.39 (from $2.46) for 2024, reflecting lower loan loss provisions in 2023 and lower revenues in 2024. 

Wedbush Analyst David J. Chiaverini lowered the core EPS estimate to $2.40 (from $2.45) for 2023, $2.30 (from $2.35) for 2024, and $2.40 (from $2.60) for 2025 due to lower fee income assumptions. 

Price Action: RF shares are trading higher by 1.83% at $20.08 on the last check Monday.