Fly News Breaks for January 21, 2020
Jan 21, 2020 | 09:21 EDT
As previously reported, Janney Montgomery Scott analyst Christopher Marinac upgraded Regions Financial to Buy from Neutral with an $18.50 fair value estimate, stating that he believes the company's credit quality details "received more scrutiny than necessary" when Regions announced its Q4 results and 2020 outlook on Friday. The company has plenty of profits to cover a minor charge-off increase in 2020 and its cash dividend yield is "secure," Marinac tells investors.
News For RF From the Last 2 Days
Jun 5, 2020 | 14:57 EDT
Wells Fargo analyst Mike Mayo raised the firm's price target on Regions Financial (RF) to $15 from $12 and keeps an Equal Weight rating on the shares. Mayo raised his targets on 16 large cap banks following the better than expected jobs data, citing more confidence that he's been conservative with his modeling. The analyst remains a buyer of banks, especially the largest, including Citigroup (C), which he identifies as his favorite, other money centers such as BofA (BAC) and JPMorgan (JPM) and large banks like U.S. Bancorp (USB) and PNC Financial (PNC).