Regions Financial Corporation (NYSE:RF) Holds Steady After Stock Divided And Repurchase Program Announcement

0
571

Dallas, Texas 05/07/2014 (FINANCIALSTRENDS) – Regions Financial Corporation (NYSE:RF) is holding steady at just above the $10 mark thanks to a decent first quarter earnings report, along with a stock repurchase program announcement coupled with the board approving a dividend for shareholders.

Regions Financial Corp First Quarter Earnings Report

Regions Financial Corp reported net income of $311 million for the first quarter, representing an increase of 42% over the earnings posted in the same quarter in 2013. Earnings per diluted share for the first quarter this were pegged at $0.22.

Total ending loans increased $1.1 billion during the first quarter, taking the total to $76 billion. Total new and renewed loan production was likewise up 2% year over year. Deposit balances were pegged at $93 billion at the end of the first quarter, representing an increase of 1% over the previous quarter.

Net interest income for the quarter was reported to be $831 million, a decrease of 1.8% from the previous quarter. This decline is attributed to the quarter having less days, and a drop in the interest rate on loan yields.

Statement by Regions Financial Corp CEO Grayson Hall

Regions Financial Corp Chairman, President and CEO Grayson Hall said that, “We are off to a solid start in 2014 and this quarter’s results demonstrate that our focus on identifying and meeting more customer needs is generating steady and sustainable growth.”

Another plus point was the completion of the annual Comprehensive Capital Analysis and Review process, which produced no objection to capital actions including a hike in quarterly dividend to $0.05 per share, and a $350 million stock repurchase program for common shares.

Regions Financial Corporation has $118 billion in assets, and is a member of the S&P 500 Index. It is one of the largest full-service consumer and commercial banking firms in the country which also offers varied financial products and services including mortgage, insurance and wealth management.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.