Regions Financial Corporation (NYSE:RF) upgraded by Zacks
According to a recently published report drawn up by analysts of Zacks, an ‘outperform’ rating on the shares of Regions Financial Corp. (NYSE:RF) has been reinstated, given that Regions Financial Corp.’s (NYSE:RF) first-quarter 2013 earnings from continuing operations beat the estimates of Zacks, a fact primarily attributed to a decline in non-interest expenses. Moreover, increases in net interest margins further imply interest recovery for the company to a certain extent. It is believed that the company’s favourable funding mix, its expansion mode, as well as improved performance of core business and strategies, will generate decent yields for the company in the upcoming quarters. In addition, significant improvement in the credit quality and effective control imposed over non-interest expenses will be also positive catalysts. Seven equity research analysts have rated the stock of Regions Financial Corp. (NYSE: RF) as ‘hold’, two have issued a ‘sell’ rating, thirteen have given a ‘buy’ and one has assigned a ‘strong buy’ rating to the company.
Shares of Regions Financial Corporation (NYSE:RF) trading at $10.19 on Tuesday, recording a gain of 0.39 percent over the previous closing price. The shares of the company fluctuate in the range of $10.04 and $10.27, after opening at $10.24. The shares of Regions Financial Corporation (NYSE:RF) recorded a 52-week low price of $6.18 and a 52-week high price of $10.34.
Regions Financial Corporation (NYSE:RF) had an average trading volume of 15.35 million shares on Tuesday, with an average trading volume of 17.75 million shares per day. The company currently has 1.41 billion shares outstanding in the market, with a market capitalization of $14.28 billion. Institutional ownership in Regions Financial Corporation (NYSE:RF) is 74 percent of its total equity capital.