Regions Financial reported a 4.8% year-over-year profit decline to $319 million from $335 million. Earnings per share dipped to 22 cents from 23 cents in the same period one year earlier. Revenue declined 3.5% year over year to $1.25 billion thanks to a drop in fee income from reduced mortgage activity.
Analysts polled by Thomson Reuters expected earnings of 19 cents a share on revenue of $1.3 billion.
The earnings per share beat helped the stock rise 1.26% to $10.41 at 10:23 a.m.
Separately, TheStreet Ratings team rates REGIONS FINANCIAL CORP as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate REGIONS FINANCIAL CORP (RF) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, good cash flow from operations, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: