The broad indexes all showed strong gains, after the Federal Reserve Bank of Chicago reported that its Chicago Fed National Activity Index's declined to -0.09 in February from +0.33 in January, but that the index's three month moving average increased to +0.30 in February from +0.22 in January, for "its highest level since May 2010," suggesting "that growth in national economic activity was above its historical trend," with "limited inflationary pressure from economic activity over the coming year."
The Federal Reserve Bank of Dallas reported that its Texas Manufacturing Outlook Survey showed that "factory activity continued to increase in March," with the production index for the state holding steady at 11.1, "suggesting growth continued at about the same pace as last month."
The KBW Bank Index (I:BKX) rose over 1% to close at 50.23, with all but one of the 24 index components rising for the session.Regions Financial's shares have now returned 54% year-to-date, after falling 38% last year. The stock trades for nine times the consensus 2013 earnings estimate of 75 cents a share, among analysts polled by Thomson Reuters. The consensus 2012 EPS estimate is 47 cents.
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