DA Davidson lowered the firm’s price target on Regions Financial to $19 from $21 but keeps a Buy rating on the shares. The company reported a weak Q3 with more pressure than expected on net interest income, but while this has carried over into Q4, the pressure is expected to bottom in the first half of 2024 at lower levels than originally forecasted, the analyst tells investors in a research note. The firm maintains its view of Regions as a high quality franchise, with a strong deposit franchise, strong capital and top tier profitability metrics.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on RF:
- Regions Financial price target lowered to $15 from $18 at Truist
- Regions Financial price target lowered to $19 from $23 at RBC Capital
- Regions Financial price target lowered to $17 from $22 at Piper Sandler
- Regions Financial price target lowered to $20 from $23 at Barclays
- Regions Financial price target lowered to $16 from $18 at BofA