Regions Financial downgraded to Hold from Buy at Odeon Capital

Odeon Capital analyst Dick Bove downgraded Regions Financial to Hold from Buy with a $17.10 price target. While stating “I am a little late in making this adjustment,” after “some consideration it appears to me that the story has changed on this company,” the analyst tells investors. Regions has had good management for a decade now, but it appears that management’s reliance on margins above sales is “now creating a problem” as the bank must give up this focus “aligning its pricing to the markets,” the analyst says.