This Day On The Street
Continue to site
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: Earnings Winner

Apple's shares have declined 28% from their closing high of $702.10 on Sept 19.

Back to the Banks

The KBW Bank Index (I:BKX) rose 1% to close at 53.90, with all but three of the 24 index components showing gains for the session.

Shares of Bank of America (BAC - Get Report) were up 2% to close at $11.35, reversing their 5% slide during the previous two sessions. The company on Thursday reported meager fourth-quarter earnings of three cents a share, springing from its large mortgage putback settlement with Fannie Mae (FNMA) and its portion of the $8.5 billion foreclosure settlement between federal regulators and the largest mortgage loan servicers.

With "27 of the top 100 regional banks" having reported their fourth-quarter results through Friday, Oppenheimer analyst Terry McEvoy said in a note on Monday that "revenue increased 10.7% annualized in 4Q12 vs. 4.9% in the prior quarter. With net interest income flat, the growth is coming from fee income largely on the strength of mortgage banking. The ability of banks to increase net interest income in '13 will rest on whether loan growth can offset [net interest margin] compression."

Regions Financial

Regions Financial of Birmingham, Ala., reported adjusted fourth-quarter operating earnings of $311 million, or 22 cents a share, beating the consensus estimate 21 cents.

The adjusted earnings excluded roughly $42 million in pretax costs for the termination of a third-party investment in a REIT subsidiary.

Fourth-quarter GAAP earnings available to common shareholders were $261 million, or 18 cents a share, compared to $312 million, or 21 cents a share, in the third quarter, and a net loss to common shareholders of $135 million, or 48 cents a share, in the fourth quarter of 2011.

Fourth-quarter net interest income was $818 million, increasing slightly from $817 million the previous quarter, but declining from $849 million a year earlier. The net interest margin -- the spread between the average yield on loans and investments and the average cost for deposits and borrowings -- was a tax-adjusted 3.10% in the fourth quarter, widening from 3.08%, both in the third quarter and in the fourth-quarter of 2011.

While the company's average total loans declined 1% sequentially and 5% year-over-year to $74.622 billion in the fourth quarter as commercial real estate and residential mortgage loans continued to decline, average commercial and industrial loans grew 1% quarter-over-quarter and 9% year-over-year, to $26.414 billion. Meanwhile, average indirect auto loans grew by 7% sequentially and 26% year-over-year, to $2.295 billion in the fourth quarter.
2 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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
DELL $0.00 0.00%
AAPL $117.81 0.00%
BAC $17.48 0.00%
RF $10.17 0.00%
STT $72.80 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs