Nomura/Instinet Downgrades Regions Financial (RF) to Reduce

Nomura/Instinet analyst Bill Carcache downgraded Regions Financial (NYSE: RF) from Neutral to Reduce with a price target of $14.00 (from $17.00).

The analyst cites a view that accelerating commercial and industrial loan losses with drive negative EPS revisions and drive shares to underperform regional peers. The analyst further comments "Industry C&I loan growth has accelerated sharply YTD as underwriters have loosened lending standards amid weaker loan demand. Against this backdrop, KEY and RF are growing C&I loans at elevated rates above the industry, and we believe this will lead to greater-than-expected loan losses."

For an analyst ratings summary and ratings history on Regions Financial click here. For more ratings news on Regions Financial click here.

Shares of Regions Financial closed at $14.90 yesterday.

You May Also Be Interested In

• HSBC Downgrades HK Electric (2638:HK) (HKCVF) to Hold
• Telecom Plus Plc. (TEP:LN) PT Raised to GBP7.40 at Deutsche Bank
• Truist Securities Downgrades Procept BioRobotics Corp (PRCT) to Hold