Tue, Jan. 20, 7:45 AM
- Q4 net income of $195M or $0.14 per share vs. $219M and $0.16 a year earlier.
- Net interest income of $820M vs. $832M, with net interest margin of 3.17% slipping nine basis points.
- Noninterest income of $448M vs. $526M, with declines in mortgage fees, service charges, and capital markets revenue, partially offset by increases in card and ATM fees, and wealth management income.
- Noninterest expense of $969M vs. $946M.
- Tier 1 common ratio of 11.6%. $248M of stock repurchased during quarter ($350M program). Tangible book value per share of $8.26 vs. $7.54 one year ago.
- Previously: Regions Financial misses by $0.07, misses on revenue (Jan. 20)
- RF -0.45% premarket
Tue, Jan. 20, 6:02 AM| 1 Comment
Mon, Jan. 19, 5:30 PM
Dec. 5, 2014, 10:06 AM
- Among those counting on higher interest rates to boost profits are banks, insurers, and online brokers, and all are outliers to the upside in today's session after a strong November jobs report has rate hike expectations on the rise. The XLF is up 1%.
- TBTFs: Bank of America (BAC +2.1%), Citigroup (C +1.8%), JPMorgan (JPM +2.2%), Wells Fargo (WFC +1.2%)
- Regionals (KRE +1.9%): Regions Financial (RF +2.6%), KeyCorp (KEY +2.3%), Huntington (HBAN +1.5%), BB&T (BBT +1.6%), Zions (ZION +4%)
- Custodials: BNY Mellon (BNY), State Street (STT +1.6%), Northern Trust (NTRS +1.8%)
- Life insurers: MetLife (MET +2.1%), Prudential (PRU +2.5%), Lincoln National (LNC +2.3%)
- Online brokers: Schwab (SCHW +3.8%), E*Trade (ETFC +3%), Ameritrade (AMTD +2.7%)
- Previously: Short end of yield curve on the move after jobs number (Dec. 5, 2014)
- Previously: Bonds and dollar higher, gold slumps after strong jobs report (Dec. 5, 2014)
- ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, KIE, IAT, IAI, SEF, IYG, IAK, FXO, FNCL, KBWB, RKH, QABA, FINU, KRU, RWW, KBWR, RYF, KBWP, KBWI, PSCF, FINZ, KRS
Oct. 21, 2014, 6:59 AM
- Core EPS of $0.22 vs. $0.21 in Q2.
- Total Revenue increased 20M q/q to $1.3B
- Net Interest Margin of 3.18% vs. 3.24% in Q2
- Tangible Book value per share of $8.23 vs. $8.12 in Q2.
- Tier I capital ratio of 12.7% vs. 12.5% in Q2
- Adjusted Efficiency ratio of 63.6%
- Conference call at 11 ET. Webcast here.
- RF No trades PM
- Previously: Regions Financial beats by $0.01, revenue in-line
Oct. 21, 2014, 6:01 AM
Oct. 20, 2014, 5:30 PM
Oct. 16, 2014, 3:36 PM
Oct. 15, 2014, 10:49 AM
- Bank earnings models will no doubt need to be tweaked as the sure thing of higher rates becomes somewhat less sure, with the 10-year U.S. Treasury yield plunging all the way down to 2%, and 30-day Fed Funds futures - just weeks ago pricing in 100% chance of a rate hike by June 2015 - now sees no move until December 2015.
- The XLF is lower by 1.9% and the Regional Banking ETF (NYSEARCA:KRE) is down 2.1% (the S&P 500 is off a mere 1.1%). Among individual names, KeyCorp (KEY -6.4%), First Bancorp (FBP -6.4%), Regions Financial (RF -4%), U.S. Bancorp (USB -2.2%), Fifth Third (FITB -2.6%), Bank of America (BAC -4%), Citigroup (C -3.3%), JPMorgan (JPM -2.8%), Wells Fargo (WFC -1.9%).
- Financial ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, IAT, SEF, IYG, FXO, FNCL, KBWB, RKH, QABA, FINU, KRU, RWW, KBWR, RYF, FINZ, KRS
- Life insurers were also waiting on higher rates and they're slipping more than the averages as well. MetLife (MET -3.7%), Prudential (PRU -2.9%), Manulife (MFC -3.5%) Sun Life (SLF -3.4%), Lincoln Financial (LNC -3.9%).
- Insurance ETFs: KIE, IAK, KBWP, KBWI
- Previously: BofA call: Assumption about higher rates not so sure anymore
Sep. 17, 2014, 3:16 PM
- Leading markets higher as the reality of higher interest rates gets nearer is the financial sector (XLF +0.9%). Whether its banks, brokerages, or insurers, a higher benchmark rate for some time has been considered a key bullish catalyst. An especially large move is being seen in the online brokerage names who have been forced to forego money market fees for years thanks to ZIRP: E*Trade (ETFC +3%), Schwab(SCHW +3.2%), Ameritrade (AMTD +2%).
- Morgan Stanley (MS +1.8%), Bank of America (BAC +1.2%), JPMorgan (JPM +0.9%)
- U.S. Bancorp (USB +1.1%), Regions Financial (RF +2%), New York Community Bank (NYCB +0.8%), Huntington Bancshares (HBAN +1.3%), KeyCorp (KEY +1.3%)
- MetLife (MET +0.6%), Voya Financial (VOYA +0.7%).
- Chubb(CB +0.4%), AIG (AIG +1.1%), Hartford (HIG +0.8%)
- Financial sector ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, KIE, IAT, SEF, IYG, IAK, FXO, KBWB, FNCL, RKH, QABA, FINU, KRU, KBWR, RWW, KBWP, RYF, KBWI, KRS, FINZ
Aug. 27, 2014, 4:09 PM
- Chief Administrative Officer David Edmonds has been with Regions (NYSE:RF) for 20 years and in this office since 2010. The bank will not fill his slot after his retirement (effective Tuesday), but Edmonds will stay with the company at least through March 2015 to assist with the transition of his duties to other executives.
- Source: Press Release
Jul. 22, 2014, 6:03 AM
Jul. 21, 2014, 5:30 PM
Jul. 17, 2014, 4:41 PM| 1 Comment
Jun. 25, 2014, 3:50 PM
- At issue was the bank's identifying and reporting non-accrual loans in Q1 of 2009. The Alabama Dept. of Banking is also assessing a $5M penalty.
- Three employees of the Regions (RF +0.9%) involved with the misreporting are also suffering enforcement actions, with two prohibited from working in the banking industry and one facing administrative proceedings by the Fed.
Jun. 16, 2014, 4:59 PM
- Regions (RF) creates a General Bank which houses units serving retail, wealth management, and small business customers, and a Corporate Bank under which middle-market and larger commercial business will be housed.
- John Owen, Head of Business Lines, has been named head of the General Bank, and South Region President John Turner has been named head of the Corporate Bank.
- CEO Grayson Hall: "This realignment creates a more streamlined structure at the top of the company and is a more effective model for executing our strategy, managing our performance and serving our customers."
- Source: Press release
RF vs. ETF Alternatives
Regions Financial Corp provides traditional commercial, retail and mortgage banking services, & other financial services in the fields of asset management, wealth management, securities brokerage, insurance, trust services, and other specialty financing.
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