Regional Bank Stocks: Regions Financial (RF)
Regions Financial (RF) — another one of the big regional bank stocks, with a market cap of $14.76 billion — is up 10% for the year-to-date.
Unlike a number of other financials, Regions’ quarterly profit actually fell last quarter on one-time items. However, earnings per share beat the Street forecast, and for the full year, profit rose 10%.
Regions has been cutting costs in part by slashing its physical footprint and closing branches. It has also worked hard to sell hundreds of million in troubled mortgage loans. That helps clean up the books, but also leads to accounting charges. Also helping the stock are rising revenue, a strong capital position (which got even stronger in the most recent quarter), and rising net interest income.