Sees FY24: Adjusted non-interest expense ~$4.1B; average loan growth low-single digits; average deposits stable to modestly lower; net charge-offs/average loans 40-50 bps; effective tax rate 21%-22%. 2024 NII expected to stabilize over the first half of the year and grow over the back half of the year. 1Q24 NII expected to decline 3-5% QoQ. 2024 NIM expected to be ~3.50%. Anticipates continuing to manage CET1 around 10% over the near term. Expects continued credit normalization toward historical levels. Comments taken from investor presentation slides.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on RF:
- Options Volatility and Implied Earnings Moves This Week, January 16 – January 19, 2024
- Regions Financial upgraded to Buy from Hold at Jefferies
- Regions Financial price target lowered to $20 from $21 at Truist
- Regions Financial downgraded to In Line from Outperform at Evercore ISI
- Regions Financial downgraded to Underweight from Equal Weight at Barclays
