Argus analyst Kevin Heal lowered the firm’s price target on Regions Financial to $19 from $24 but keeps a Buy rating on the shares. The analyst cites the company’s Q3 earnings miss but also notes that the bank continues to take prudent steps to control expenses and to manage credit and interest rate risk. Regions remains well-positioned for the long term due to its advantageous geographic footprint, growth from recent transactions and prudent balance sheet management, the firm tells investors in a research note.
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