Analyst Richard Bove of Rafferty Capital Markets says Regions Financial Corp (RF) is an attractive company due to its book value and potential benefit from an accelerated Gulf Coast economy.
“If we go down to the regional banks, I think Regions Financial is a fairly attractive company because the company also is selling at a discount to book value — which is very important to me in selecting a bank stock. Its book value is solid because it has gotten rid of its problem loans,” Bove said.
FOR MORE INFORMATION ON THIS INTERVIEW CLICK HERE.
Bove says that because Regions Financial is the biggest bank on the Gulf Coast in the U.S., it will likely gain from the rebuilding occurring there.
“If you think about the BP (BP) oil spill, you quickly realize that British Petroleum has put an estimated $25 billion to $30 billion into rebuilding the Gulf Coast. There may be another $25 billion to be invested. This money stimulates economic activity on the Gulf, and Regions Financial is going to benefit from it,” Bove said.
Valero Energy Corporation (VLO) Obtains Competitive Advantages by Refining Gulf Coast Crude
March 01, 2013
Sonic Corporation (SONC) Shows Double-Digit Earnings Growth, Commits to Coast-to-Coast Expansion
May 15, 2014
Sustained Economic Growth Expected to Benefit Canadian Equities
August 03, 2012
David Turner, CFO of Regions Financial Corp (RF), Speaks at BancAnalysts Association of Boston Conference
November 10, 2014
Kilroy Realty Corp (KRC) and Essex Property Trust (ESS) Largely Exposed to West Coast Real Estate
July 02, 2013
