Nomura Securities Starts Regions Financial (RF) at Buy

February 6, 2013 8:17 AM EST
Get Alerts RF Hot Sheet
Price: $14.04 +0.43%

Rating Summary:
    13 Buy, 20 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Nomura Securities initiates coverage on Regions Financial (NYSE: RF) with a Buy. PT $9.00.

Analyst Keith Murray comments, "We think the shares will get a lift this year from continued credit improvement (we are lower than consensus on provision expense), higher-than-expected capital returns (we see a buyback along with a dividend increase), expense control, and a possible turn to positive loan growth in the second half of 2013. Shares currently trade at a discount to the regional bank group on both a P/E and P/B basis, and we think the current multiples of 9.4x 2014E earnings and 0.7x book value are not demanding. We believe shares could re-rate in 2013. FY13E EPS at $0.81; FY14E EPS at $0.85."

For an analyst ratings summary and ratings history on Regions Financial click here. For more ratings news on Regions Financial click here.

Shares of Regions Financial closed at $7.93 yesterday.

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