Regions Financial Corp. (NYSE:RF) is expected to report Q3 earnings before market open Tuesday, Oct. 21, with a conference call scheduled for 10:00 am.
Analysts are looking for EPS of 27c on revenue of $1.74B. The consensus range for EPS is 9c to 42c, while the consensus range for revenue is $1.71B to $1.76B, according to First Call.
Citigroup upgraded Regions on October 14, citing what the firm sees as the positive effect of the government's new capital injection plan. There has been speculation that Goldman Sachs (NYSE:GS) and/or Morgan Stanley (NYSE:MS) may look to buy the bank. Investors will listen for any indication suggesting that Regions is open to takeover bids. Meanwhile, Regions could benefit from a takeover in the banking sector that has already taken place. Barron's recently speculated that Regions would be one of several small banks that could benefit from the acquisition of Wachovia (NASDAQ:WB) by Wells Fargo (NYSE:WFC). The newspaper explained that Wells Fargo will be unfamiliar to banking customers in the southeast, possibly prompting some of them to switch to institutions that are more well-known in the area, including Regions.
On the other hand, D.A. Davidson investment strategist Frederic Dickson recently said he does not advise buying Regions' stock because nobody knows the real value of the bank's assets, according to Bloomberg.