Wells Fargo Starts Regions Financial (RF) at Market Perform; Still On the Long And Winding Road To Recovery
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Price: $9.17 +0.22%
Rating Summary:
16 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
16 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade RF Now!
Wells Fargo initiates coverage on Regions Financial (NYSE: RF) with a Market Perform. PT range $4-$5.
Wells analyst says, "We estimate 2011-13 EPS of -$0.29/ $0.40/$0.60 and "core" EPS of $0.04/0.37/0.60. We expect RF to raise equity to exit TARP and bolster its less-robust core capital base relative to peers. We believe RF's current valuation (64% of tangible book value and 8.8x estimated 2012 EPS) accurately reflects the firm's relatively modest 6% 2012 estimated core return on tangible common equity (ROTCE) and low probability of capital returns in 2012."
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 $4.69 yesterday, with a 52 week range of $2.82-$8.09.
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Wells analyst says, "We estimate 2011-13 EPS of -$0.29/ $0.40/$0.60 and "core" EPS of $0.04/0.37/0.60. We expect RF to raise equity to exit TARP and bolster its less-robust core capital base relative to peers. We believe RF's current valuation (64% of tangible book value and 8.8x estimated 2012 EPS) accurately reflects the firm's relatively modest 6% 2012 estimated core return on tangible common equity (ROTCE) and low probability of capital returns in 2012."
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 $4.69 yesterday, with a 52 week range of $2.82-$8.09.
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