Regions Financial: 4Q Earnings Snapshot
BIRMINGHAM, Ala. (AP) _ Regions Financial Corp. (RF) on Friday reported fourth-quarter net income of $389 million.
The bank, based in Birmingham, Alabama, said it had earnings of 38 cents per share. Earnings, adjusted for non-recurring costs, were 40 cents per share.
The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The holding company for Regions Bank posted revenue of $1.67 billion in the period. Its revenue net of interest expense was $1.48 billion, also surpassing Street forecasts. Nineteen analysts surveyed by Zacks expected $1.47 billion.
For the year, the company reported profit of $1.58 billion, or $1.50 per share. Revenue was reported as $5.86 billion.
Regions Financial shares have decreased almost 3% since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 3%. The stock has climbed 8% in the last 12 months.