Why Regions Financial Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Regions Financial Corporation (NYSE:RF) shares fell after reporting worse-than-expected Q3 FY23 results. Adjusted revenues declined 0.5% Y/Y to $1.858 billion, missing the consensus of $1.890 billion. The company reported adjusted EPS of $0.49, missing the consensus of $0.58. Total deposits fell 7.6% Y/Y to $125.22 billion, while total loans rose 4.3% Y/Y to $98.79 billion. RF shares are trading lower by 12.44% at $14.43.
October 20, 2023 | 1:59 pm
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Regions Financial Corporation reported worse-than-expected Q3 FY23 results, leading to a drop in its share price.
Regions Financial Corporation reported lower than expected revenues and EPS for Q3 FY23. This negative financial performance is likely to have led to the decrease in the company's share price. The decline in total deposits and the increase in total loans could also be contributing factors.
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