Alabama-based Regions Financial reports Q3 earnings topping analysts expectations
Published 8:20 am Tuesday, October 22, 2019
Regions Financial Corp. (RF) on Tuesday reported third-quarter earnings of $409 million.
The bank, based in Birmingham, Alabama, said it had earnings of 39 cents per share.
The results met Wall Street expectations. The average estimate of 23 analysts surveyed by Zacks Investment Research was also for earnings of 39 cents per share.
The holding company for Regions Bank posted revenue of $1.72 billion in the period. Its revenue net of interest expense was $1.5 billion, beating Street forecasts. Twenty-three analysts surveyed by Zacks expected $1.47 billion.
Regions Financial shares have climbed 20% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has dropped roughly 5% in the last 12 months.