In a report published Friday, Morgan Stanley analyst Betsy L. Graseck reiterated her Overweight rating on Regions Financial Corporation RF, and slightly raised her price target from $8.50 to $9.00.
In the report, Graseck noted, “CCAR results suggest payouts will rise even more in 2014+. Question is if/when banks can pay out over 100% of earnings. BAC and RF buybacks well in excess of our est...RF buying back $350M vs MSe of $233M and consensus of $202m. RF benefits from shrinking NPLs and increasing capital ratio over the last 12m...EPS estimates rise 1% in 2014 on lower share-count from higher than expected buybacks in 2q13-1q14.”
Regions Financial Corporation closed on Thursday at $8.31.
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