[July 08, 2011] Union Bank Looking to Acquire Regional Financial (RF) Tweet Jul 08, 2011 (SmarTrend(R) News Watch via COMTEX) -- According to a report by The San Francisco Times, Regions Financial (NYSE:RF) may be acquired by Union Bank. The news reports that on July 1 comes as Union Bank also tries to shore up growth in the west with the recent decision by Bank of Tokyo-Mitsubishi UFJ to streamline its U.S.'s operations. Masaaki Tanaka, BTMU's CEO for the Americas, said "This new structure will enable us to be more nimble and flexible in responding to U.S. market opportunities and provide better governance to make the decisions necessary to achieve the company's aggressive growth plans. This move also reaffirms and further emphasizes BTMU's interests and commitment to become a top 10 banking group in the U.S." Regions Financial has a potential upside of 17.2% based on a current price of $6.14 and an average consensus analyst price target of $7.20 Regions Financial is currently below its 50-day moving average (MA) of $6.63 and below its 200-day MA of $6.88. In the last five trading sessions, the 50-day MA has fallen 0.99% while the 200-day MA has slid 0.19%. Regions Financial Corporation is a regional multi-bank holding company. The Company provides mortgage banking, credit life insurance, leasing, commercial accounts receivable factoring, specialty mortgage financing, and securities brokerage services. Regions provides banking services throughout the South, Midwest, and Eastern United States. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]