Regions Financial Corp
RF: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $87.00 | Hct | Rnbbdqyht |
Regions Financial Earnings: Mixed Quarter, 2024 Outlook Mostly Reiterated; Maintaining Fair Value
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Regions Financial reported a mixed start to 2024. First-quarter adjusted revenue edged out the FactSet consensus estimate of $1.75 billion, and adjusted earnings per share of $0.46 came in a penny above the consensus estimate of $0.45, by our calculations. Net interest income is still bottoming out but is performing as expected. Operating expenses were elevated, and the firm’s credit trends, while still healthy, mostly worsened. Regions largely maintained its 2024 outlook. We will maintain our no-moat rating and $22 fair value estimate.