Regions Financial price target lowered to $16 from $18 at BofA

BofA analyst Ebrahim Poonawala lowered the firm’s price target on Regions Financial to $16 from $18 on Friday, while keeping a Neutral rating on the shares. The firm notes Regions Financial reported Q2 core EPS of 49c vs. its/consensus’s 57c/58c estimates. The miss to BofA’s estimates was driven by higher expenses and lower net interest income, partially offset by higher fees and a lower tax rate.