Regions Financial price target raised to $21 from $19 at RBC Capital

RBC Capital raised the firm’s price target on Regions Financial to $21 from $19 and keeps an Outperform rating on the shares. The company delivered better-than-expected results driven by higher-than-expected revenue partially offset by a higher-than-expected loan loss provision and expenses, the analyst tells investors in a research note. Regions is actively managing it interest rate risk with a hedging program that is designed to protect its net interest income in a falling interest rate environment, but the strategy weighs on its net interest income in a “higher for longer” rate environment, the firm added.