The regional bank posts third-quarter revenue and net interest income below expectations.
Regions Financial shares were falling in premarket trading Friday after the regional bank missed third-quarter earnings estimates.
Regions posted third-quarter earnings of 49 cents a share, rising from 43 cents a year earlier but lower than Wall Street estimates of 58 cents. Revenue was $1.86 billion, below expectations of $1.89 billion. Net interest income was $1.29 billion, missing estimates of $1.32 billion. “Our protective hedging strategies position us for success in any rate environment and support our commitment to generating consistent, sustainable long-term performance,” said President and CEO John Turner in the earnings release. “While the industry continues to face economic and regulatory uncertainty, we are confident in our ability to adapt to the changing landscape while continuing to deliver top-quartile returns through the cycle.”Write to Emily Dattilo at emily.dattilo@dowjones.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Regions Financial misses profit, revenue and net interest income expectations, as deposits fallTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Read more »
Regions Financial sees fall in Q4 interest income, misses profit estimateRegions Financial (RF.N) said on Friday it expects its fourth-quarter net interest income (NII) to decline about 5% compared with the preceding three months, as banks pay more to retain deposits, sending its shares down about 2% before the bell.
Read more »
BoJ Financial System Report: Japan’s financial system has been maintaining stability on the wholeThe latest Bank of Japan (BoJ) Financial System Report published on Friday revealed that “Japan's financial system has been maintaining stability on t
Read more »
Citizens Financial Group Inc Stock Price Today | NYSE CFG Live TickerView today's Citizens Financial Group Inc stock price and latest CFG news and analysis. Create real-time notifications to follow any changes in the live stock price.
Read more »
Discover Financial Services’ stock is on track for lowest close since early 2021‘While the unemployment numbers remain relatively in line and strong by historical standards, we are seeing some indications of stress,’ CFO says
Read more »
Stock Market Today: Tesla Stock Sinks, Netflix Surges and Earnings Deluge ContinuesGovernment bonds sell off again; Netflix stock surges premarket
Read more »