Regions Financial CorporationRF
▼ NegativeCapitalrelevance
Revenue missed estimates and efficiency ratio was worse than expected.
Impact on stocks 1
Financials
Regions Financial CorporationRegions Financial reported second-quarter revenue of $1.91 billion, missing analyst estimates of $1.95 billion and falling 0.5% year on year. Net interest income came in at $1.28 billion, in line with expectations and up 1.4% from a year ago, while the net interest margin matched forecasts at 3.7%. Adjusted earnings per share of $0.68 beat the consensus estimate of $0.63 by 7.9%, but the efficiency ratio of 58.3% was worse than the 57% analysts had projected. Tangible book value per share reached $13.78, roughly in line with the $13.82 estimate and up 7.9% year on year.
Regions Financial CorporationRevenue missed estimates and efficiency ratio was worse than expected.