Regions Financial (RF) Q2 Earnings Rises Y/Y, Revenue Up

Have you been eager to see how Regions Financial Corporation RF 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.

REGIONS FINL CP Price and EPS Surprise

REGIONS FINL CP Price and EPS Surprise | REGIONS FINL CP Quote

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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