Home Top Movers Why Regions Financial Corp (RF) stock had a quiet Monday?

Why Regions Financial Corp (RF) stock had a quiet Monday?

Regions Financial Corp (RF) stock had no loss on gains on Monday, May 3, 2021. The price of $21.80 per share remained unchanged.

RF shares have surged 114.36% over the last 12 months, and they have moved up by 3.27% in the past week. Over the past three months, the stock has gained 25.87%, while over the past six months, it has added 65.15%.


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Let’s discuss its recent activities.

Financial results announcement

On April 23, 2021, Regions Financial Corporation reported earnings for the first quarter of 2021, which ended March 31, 2021.

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Key highlights of Q1 2021

  • The company reported a net income of $614 million, available to common shareholder, and earnings per diluted share of $0.63, compared to $139 million net income and earnings per diluted share of $0.14 in Q1 2020.
  • Regions Financial Corp reported total revenue of approximately $1.6 billion in Q1 2021 compared to $1.413 billion in Q1 2020.
  • RF spent $928 million in non-interest expenses in Q1 2021 compared to $$836 million in Q1 2020.
  • Adjusted non-interest expenses were $918 million in Q1 2021 compared to $824 million in Q1 2020.

Gallup’s highest workplace honour

On March 22, 2021, Regions Bank earned the Gallup Exceptional Workplace Award (GEWA) for the seventh consecutive year. This award is Gallup’s highest honour, recognizing the most engaged workplace cultures at organizations worldwide.

Perfect Score on 2021 Corporate Equality Index

On February 17, 2021, Regions Bank received a score of 100% on the human rights campaign foundation’s 2021 Corporate Equality Index (CEI).

CEI is the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality. 

Q4 and FY 2020 financial results

On January 22, 2021, Regions Bank announced its financial results for the fourth quarter and the financial year ended on December 31, 2020.

  • For the full year of 2020, the company reported a net of $991 million (income available to common shareholders) and earnings per diluted share from continuing operations of $1.03 compared to $1,503 million and earnings per diluted share from continuing operations of $1.50 in FY2019.
  • FY 2020 total revenue was $1,686 million compared to $1,480 million in 2019.
  • Total non-interest expense was $987 million in FY 2020 compared to $897 million in 2019.
  • For fourth-quarter net income available to common shareholders of $588 million and earnings per diluted share from continuing operations of$0.61, compared to $366 million and earnings per diluted share from continuing operations of $0.38 in Q4 2019.
  • RF reported total revenue of $432.6 million in Q4 2020.
  • Total non-interest expenses were $10.2 million in Q4 2020.

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Conclusion

Financially, RF bank is a very strong financial institute with $147 billion in assets, it is continuously performing well and we can see it grow further in the coming days, based on its past performance. At the moment we have no reason for its quiet Monday.

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