Regions Financial Corp (RF) Falls Despite Earnings Beat

RF saw non-interest expenses increase in Q1 2017

Regions Financial Corp (NYSE:RF) stock was down on Tuesday despite positive earnings results in the first quarter of 2017.

Regions Financial Corp (RF) Falls Despite Earnings BeatRegions Financial Corp reported earnings per share of 23 cents during the first quarter of the year. This is an increase over the earnings per share of 20 cents that was reported during the same time last year. It also came in one penny above Wall Street’s earnings per share estimate of 22 cents for the quarter.

Revenue reported by Regions Financial Corp for the first quarter of 2017 was $1.39 billion. This matches the revenue that the company reported in the first quarter of 2016. It also matches analysts’ revenue estimate for the first quarter of the year.

During the first quarter of 2017, Regions Financial Corp reported operating income of $294 million. This is an increase over its operating income of $273 million from the same period of the year prior.

Net income reported by Regions Financial Corp in the first quarter of the year was $301 million. The is up from the financial holding company’s net income of $273 million that was reported during the same quarter of the previous year.

Regions Financial Corp saw its non-interest income increase by 1% in the first quarter of 2017 when compared to the same time last year. However, it also saw its non-interest expenses increase by 1% when compared to the first quarter of 2016.

Regions Financial Corp also notes that average loans and leases were down by $1.3 billion during the first quarter of the year. This represents a 2% decrease when compared to the first quarter of the year prior.

RF stock was down 5% as of noon Tuesday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/04/regions-financial-corp-rf/.

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