Corrects revenue in Key Details table to $1.92 bln, from $1.91 bln
Overview
Regions Financial Q3 adjusted rev beats estimates, driven by wealth and capital markets
Adjusted EPS for Q3 increased 11% year-over-year
Company repurchased 10 mln shares for $251 mln, indicating financial confidence
Outlook
Regions expects to maintain peer-leading ROATCE in 2025
Company highlights strong capital position and liquidity as differentiators
Regions focuses on long-term value creation through technology and growth initiatives
Result Drivers
WEALTH MANAGEMENT - Co achieved a record quarter in Wealth Management income, driven by elevated sales activity and favorable market conditions
CAPITAL MARKETS - Record performance in Capital Markets income, attributed to higher M&A advisory services, commercial swaps sales, loan syndications, and securities underwriting
SERVICE CHARGES - Increase in service charges due to more account openings, seasonally higher activity, and one additional business day
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
$1.92 bln
Q3 Adjusted Revenue
Beat
$1.94 bln
$1.92 bln (19 Analysts)
Q3 Adjusted EPS
$0.63
Q3 EPS
$0.61
Q3 Net Income
$569 mln
Q3 Net Interest Income
$1.25 bln
Q3 Credit Loss Provision
$105 mln
Q3 Net Interest Margin
3.59%
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 13 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Regions Financial Corp is $29.00, about 19.5% above its October 16 closing price of $23.35
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nBw5Ctl0Ra
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)