This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Regions: Financial Winner

Regarding the Autonomy mess, Whitman said that the "improprieties were discovered through an internal investigation after a senior member of Autonomy's leadership team came forward following the departure [Autonomy founder] Mike Lynch on May 23," and that the company had "SEC's Enforcement Division and the UK's Serious Fraud Office. We have requested that both agencies open criminal and civil investigations into this matter. In addition, HP intends to seek regress against various parties in the appropriate civil courts to recoup what we can for our shareholders."

Sterne Agee analyst Shaw Wu said that HP "posted a decent quarter and guided in-line for FY13," but that in addition to the Autonomy write-down, his firm was surprised by "a weak January quarter outlook implying a back-end loaded fiscal year which may raise concerns that guidance may need to be lowered in the future."

Turning back to the financials, the KBW Bank Index (I:BKX) rose 1% to close at 48.56, after the Census Bureau announced that housing starts increased to a seasonally adjusted annual rate of 894,000 in October from a revised 863,000 in September. It also reported that building permits declined to an annual rate of 866,000 in October from a revised 890,000 in September.

On average, economists were expecting housing starts of 840,000 and building permits of 865,000 for last month, according to Briefing.com.

Regions Financial

Regions Financial of Birmingham, Ala., has now seen its shares return 54% year-to-date, following last year's 38% decline.

The shares trade for 0.9 times their reported Sept. 30 tangible book value of $7.02, and for nine times the consensus 2013 earnings estimate of 77 cents, among analysts polled by Thomson Reuters. The consensus 2014 EPS estimate is 82 cents.

Regions has gone through a major transition during 2012, with the sale of its Morgan Keegan subsidiary in the first quarter, followed by a common equity raise and the company's second-quarter redemption of preferred shares held by the government for assistance received during 2008 through the Troubled Assets Relief Program, or TARP.

The company currently pays a nominal quarterly dividend of a penny per common share, but investors are looking for a much more significant return of capital next year, especially since Regions reported a strong estimated Tier 1 common equity ratio of 10.5% as of Sept. 30.
3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
HPQ $28.13 0.46%
RF $9.43 0.96%
AAPL $110.37 -1.75%
FB $88.15 -1.94%
GOOG $606.25 -1.32%

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs