Regions Financial 1Q profit is $145M, beats Street
18.05.12
Regions Financial Corp. gave out more mortgage loans to its customers and commercial loans to businesses in the first three months of the year, which helped the bank post more than eight times the profit it reported last year.
The regional bank said Tuesday it earned $145 million, or 11 cents per share, beating expectations of 8 cents a share from analysts surveyed by data provider FactSet. In the 2011 quarter, Regions reported net income of $17 million, or a penny per share.
Regions' stock rose over 4 percent to $6.39 in late-morning trading.
Source: BusinessWeek