Regions Financial Q1 profit falls on declining interest income [Reuters]
Regions Financial Corporation (RF)
Last regions financial corporation earnings: 4/17 06:00 am
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ir.regions.com
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Source: Reuters
, opens new tab reported a near 42% fall in its quarterly profit on Friday as higher deposit and funding costs hurt its interest income from customers, joining a list of U.S. banks facing the same issue. The Birmingham, Alabama-headquartered bank's net income fell to $343 million, or 37 cents per share, in the three months ended March 31 from $588 million, or 62 cents per share, in the year-ago period. Several major and regional lenders in the U.S. have seen sluggish loan growth as a high-interest rate environment is putting off potential buyers. Banks are also being forced to offer higher deposit rates as many customers are moving their money from safe haven bank accounts to higher-yielding alternatives like money-market funds for better returns. Regions Financial expects its Net Interest Income (NII)—the difference between what a bank earns on loans and pays out on deposits—to be in the range of $4.7 billion to $4.8 billion in 2024. It reported an NII of $5.32 billion in 20
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News
- Regions Financial Co. (NYSE: RF) had its price target raised by analysts at Piper Sandler from $20.00 to $21.00. They now have a "neutral" rating on the stock.MarketBeat
- A Role Model in Her Community: Regions Bank Branch Manager Honored for Making an Impact on Others [Yahoo! Finance]Yahoo! Finance
- A Role Model in Her Community: Regions Bank Branch Manager Honored for Making an Impact on OthersBusiness Wire
- Regions Bank Recognized by Fortune as One of America's Most Innovative Companies [Yahoo! Finance]Yahoo! Finance
- Regions Bank Recognized by Fortune as One of America’s Most Innovative CompaniesBusiness Wire
RF
Earnings
- 4/19/24 - Miss
RF
Sec Filings
- 5/1/24 - Form 4
- 4/25/24 - Form 8-K
- 4/24/24 - Form 4
- RF's page on the SEC website