2. Regions Financial
Shares of Regions Financial (RF) of Birmingham, Ala., closed at $6.75 Friday, returning 57% year-to-date, following a 38% decline during 2011.
The shares trade for 1.1 times tangible book value, and for 8.8 times the consensus 2013 EPS estimate of 77 cents. The consensus 2012 EPS estimate is 60 cents.
After selling its Morgan Keegan brokerage subsidiary and completing a $900 million common share offering during the first quarter, Regions in early April repaid $3.5 billion in government bailout funds received during 2008 through the Troubled Assets Relief Program, or TARP.Regions will report its second-quarter results on July 24, with analysts expecting a 14-cent profit, matching the company's first-quarter results. During the second quarter of 2011, the company earned four cents a share. Deutsche Bank analyst Matt O'Connor rates Regions a "Hold," and said on Thursday that his firm expects Regions "to report 2Q12 EPS of $0.16 (ex a $0.05 charge related to the repayment of TARP)," and that although the company's management "still expects improvement in
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