Regions Financial Has Engineered a Remarkable Turnaround Since the Great Recession
Like many large regional banks in 2008, Regions Financial (NYSE: RF) got hit hard by poorly underwritten mortgage and homebuilder loans that sent loan losses surging and shareholders running for the hills. The bank's stock dropped from almost $38 in 2006 to briefly below $3 at one point in 2009.
But more than a decade later, Regions is in a very different place. It has won back the approval of its shareholders and achieved a premium valuation. In 2022, the stock only fell slightly for the year, soundly beating the broader market and banking sector.
And today, Regions is coming off excellent fourth-quarter results and looks very well positioned for the current environment. It truly has been a remarkable turnaround for Regions since the Great Recession.
Source Fool.com
