Jefferies Forecasts RF To Be Slightly Profitable On A Full-Year 2011 Basis

Regions Financial Corp. RF posted a larger-than-expected decline in charge-offs, “helping the bank close in on core profitability (EPS was $0.01),” Jefferies reports. “We are now forecasting RF to be slightly profitable on a full-year 2011 basis,” Jefferies writes. “Outer-year estimates stay largely intact as revenue challenges remain apparent.” Regions Financial closed Tuesday a $7.17.