RF 52 weeeks low level: $3.95.. X-dividend date sept 14 '11...
DB cuts estimates for 15 US Banks:
"Regions Financial Stock To Go Ex-dividend Tomorrow (RF)
By TheStreet Wire 09/13/11 - 09:54 AM EDT
NEW YORK (TheStreet) -- The ex-dividend date for Regions Financial Corporation (NYSE:RF) is tomorrow, September 14, 2011. Owners of shares as of market close today will be eligible for a dividend of one cent per share. At a price of $4.04 as of 9:30 a.m. ET, the dividend yield is 1%.
The average volume for Regions Financial has been 22.4 million shares per day over the past 30 days. Regions Financial has a market cap of $5 billion and is part of the financial sector and banking industry. Shares are down 43% year to date as of the close of trading on Monday.
Regions Financial Corporation operates as the holding company for the Regions Bank that provides a range of commercial, retail, and mortgage banking services in the United States. "
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Bank of America, 15 Other Banks, Cut by Deutsche
By Dan Freed 09/08/11 - 07:45 AM EDT
Stock quotes in this article:BAC, RF, STI, KEY, CMA, C, ZION
NEW YORK (TheStreet) -- Bank of America (BAC_) and 15 other banks saw third quarter estimates slashed in a report published Wednesday by Deutsche Bank analysts, though they also upgraded three stocks, and arguing the recent selloff in the sector has created buying opportunities.
More on BAC
Deutsche Bank analyst Matt O'Connor's biggest downward revision went to Bank of America. O'Connor now sees the bank earning just 30 cents per share in the third quarter versus his previous estimate of 65 cents--a 55% reduction. O'Connor is still above the 22 cent consensus estimate.
The next biggest cut went to Citigroup, which O'Connor sees earning 68 cents per share, as opposed to the 93 cents he had previously predicted--a 27% differential. O'Connor is 28% below consensus estimates of 95% per share.
Other big downward revisions went to Zions Bancorporation(ZION_), Regions Financial(RF_) and Comerica(CMA_). Compared to consensus estimates, O'Connor is most bullish on Bank of America and Regions, while he is most bearish on Citigroup and SunTrust(STI_).
O'Connor raised his recommendation to "buy" from "hold" on KeyCorp(KEY_), Regions Financial and SunTrust, while downgrading Comerica to "hold" from "buy." He cited strong potential for share buybacks at KeyCorp and low valuations at both Regions and SunTrust. In lowering his recommendation on Comerica, he pointed to sluggish loan growth.
